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With Alaska’s announcement, the aviation industry in India will see launch of two new airlines next year. Jet Airways, which ceased to operate in April 2019, due to financial crunch had also announced to start operations with new promoters in 2022.

The Dow Jones Industrial Average fell 22.46 points, or 0.06 per cent, at the open to 34,723.79.

In the midst of all the positive factors that favour the defiant bulls, a bigger challenge for them may be emerging from the dollar bulls as the rupee is slowly weakening and staring at a breakdown point.

While welcoming any potential strategic alignment, the fund – Invesco Developing Markets Equities (IDME) -- considered an ally of the Subhash Chandra family since 2002, have expressed concerns over some transaction terms that “enrich the Zee’s founding family at the expense of ordinary shareholders.”

“With more players coming in and existing players like us being deeply committed to build the business, the industry can grow in size to the next level.”

Air India will now be able to better utilise the aviation bilateral rights with other countries. International travelers will, therefore, be able to travel more efficiently to more locations directly, instead of travelling through another country.

“There is a gamification of speculation segment which is looking at profit less prosperity with very welcoming eye.”.

The Nifty Pharma index closed 0.69 per cent up at 14615.35.

More than the Q2 performance, however, TCS’ stock became a victim of the over-the-top expectations that investors themselves had placed on a company trading at historic one-year forward valuations. Today’s episode, therefore, marks the beginning of the emergence of first doubt in the bull market in IT stocks over the past one year.

Among the stock-specific action, GOCL Corp, Shiva Cement, Aban Offshore and Borosil Renewables hit their upper circuit. Investors booked profits in Chambal Fertilizers and Bandhan Bank, whereas TCS tanked 6 per cent after a flop show in Q2.