Market Movers: I-T clouds on Asian Granito; Jet Airways hits turbulence before takeoff

The raids happened just a day after the country’s largest luxury surfaces and bathware solutions brand reported excellent financial performance in FY22. Led by volume growth and higher realization, the company reported its highest ever yearly sales, EBITDA and net profit for the fiscal ended March 2022.

Stock exchanges also sought clarification from the company over the reports, however, it is yet to reply to this.

Jet hits snarls
It seems problems for keep coming.

After the company finally got permission from the civil aviation authority to restart its operations, followed by delays, it is now staring at a lawsuit that may further derail its plans.

All India Jet Airways' Officers and Staff Association on Thursday said it had filed an appeal before the NCLAT (National Company Law Appellate Tribunal) against the Jalan-Kalrock consortium's resolution plan for the airline.

Following this, shares of the company sank 5 per cent to hit the lower circuit.

Flying high!
said it acquired 60 per cent shareholding in a leading drone company Throttle Aerospace Systems Private Limited (TAS). This investment in TAS has been done through NeoSky India Limited (NeoSky), a wholly-owned subsidiary of RattanIndia Enterprises Limited. NeoSky is also engaged in the business of drones.

With this acquisition, NeoSky will be able to provide full 360-degree drone solutions to customers with Drones as a Product (DAAP - drone hardware), Drone As a Service (DAAS – drone service solutions) and Software as a service (SAAS – drone software), the company said.

Following the disclosure, the stock of the company rose over 2 per cent.

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