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Market News

SpiceJet settles salary debts and faces operational turmoil, despite raising funds, while market share continues to plummet dramatically.

SpiceJet settles salary debts and faces operational turmoil, despite raising funds, while market share continues to plummet dramatically.

SpiceJet, a low-cost airline in India, has cleared all pending salary dues for its employees after raising Rs 3,000 crore through a qualified institutional placement. However, it has recently faced significant financial challenges, including a decline in Market share from 5.6% in January 2023 to just 2.3% in August 2024. The airline owes Rs 3,700 ...

Market News

Sterlite Technologies Settles .7 Million Dispute for 7,400

Sterlite Technologies Settles $2.7 Million Dispute for $467,400

Broadband technology company Sterlite Technologies has reached a settlement with the Data Management Centre, agreeing to pay $467,400 (approximately Rs 4 crore) to resolve a dispute. The Data Management Centre had previously sought $2.7 million (around Rs 23 crore) in damages due to delays and unmet obligations in their agreement with Sterlite. According to a ...

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