April’s domestic passenger (pax) traffic declined by 4.4% YoY to 11mn, lowest in the last 15 months as high flight cancellations (Jet Airways operations suspension & grounding of Boeing 737 Max) in holiday season led to capacity constraints.
JSW Steel (JSTL) reported Q4FY19 below our expectations due to lower than expected realisations largely impacted by poor product mix and high share of exports offset by higher volumes and low fuel costs.
Union Bank posted loss of Rs33.6bn of PAT (v/s PLe of Rs1.7bn loss) on back of making higher provisions from RBI’s divergence report (Rs22.8bn) and ageing of NPA helping improve PCR to 58.3% from 51.4% in Q3FY19.
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