Jet airways flies higher on the bourses

Naresh Goyal-run Jet airways (India) low cost commercial carrier Indigo both have launched a novel sales strategy of allowing customers to buy air tickets through credit cards with payment stretched out over equated monthly installments (EMI's) of  two months.
 
   With jet fuel prices shooting through the roof and fierce competition in the aviation market, the two airlines have taken a leaf out of the book of mobile phone companies,which have tied up with banks to offer handsets on EMI's through credit card purchases.
 Both Jet Airways and IndiGo have tied up with HDFC and citibank and ICICI bank to offer their passengers an option to pay fares in two installments.
  Today the scrip opened at Rs.402.90 and made a high of  Rs.442.35  up by 6.24%

Former Coal Secretary HC Gupta resigns..

Competition commission member H C Gupta,the former coal secretary who is set to be questioned by  CBI, has submitted his resignation to the government.
 The resignation came after the corporate affairs ministry gave its nod to CBI to question Gupta in connection with the coal blocks allocation scam.

Gupta submitted his resignation yesterday and the same will be processed by the government.
During the 2006-09 period, 68 coal blocks were alloted  to 151 companies and files of some of them had gone missing.
CBI, which is probing  the coal block allocation scam, has registered 12 FIR's related to alleged irregularities in the allotment coal blocks between 2006-2009.  

Fitch upgrades India's outlook to stable

Fitch Ratings today scaled up the outlook on India's sovereign ratings from negative to stable owing to the government's efforts to contain the fiscal deficit and address structural issues to perk up investment and growth.
    The rating agency affirmed its long term foreign and local currency issuer default rating at BBB.It also affirmed the country ceiling at BBB and the short foreign currency IDR at 'F3'.

The agency said the stable outlook was a result of the governments action to boost the economic activities. It reflects the measures taken by the govenment to contain the budget deficit,including the commitments made in the FY14 budget and progress in addressing structural impedients to investment and economic growth.