Top headlines: Aryan Khan gets bail; dues to Air India put at Rs 600 crore

IndiGo parent posts wider quarterly loss; Ministries, PSUs owe more than Rs 600 crore to Air India. More on top headlines for this evening

Inflation and valuation pulled down stocks on Thursday, causing the benchmark Sensex to drop 1,158 points to close at 59,984. The Nifty 50 index fell 353 points to finish at 17,857. More on that in our top headlines. 

More on that in this evening's top headlines.

IRCTC to share revenues from convenience fee with Railways on 50:50 basis

The company that provides ticketing, catering, and tourism to the Indian Railways has been asked by the government to share revenues generated from convenience fees for bookings made on its website on a 50:50 basis.

The Indian Railways Catering and Tourism Corporation's (IRCTC) revenue-sharing arrangement would be enforced from November 1, it said in a regulatory filing on October 28, along with other details. Read more

Indices post biggest fall in 6 mths as Inflation, valuation trigger selloff

The benchmark Sensex on Thursday saw its biggest drop in six months as concerns around inflation, valuations and policy normalisation by the Reserve Bank of India (RBI) triggered risk off bets. Sentiment was further dented with Morgan Stanley becoming the latest foreign brokerage to sound caution on the domestic market. Read more

IndiGo parent posts wider quarterly loss as airline's fuel expenses soar

Interglobe Aviation Ltd , which operates India's biggest airline, reported a bigger quarterly loss on Thursday as higher fuel expenses eclipsed a rebound in travel demand.

Rocketing fuel prices pose a serious threat to the recovery in India's pandemic-battered aviation industry, in line with U.S. peers that have also said a complete return to profit may be delayed as higher prices overshadow strong demand. Read more

Ministries, PSUs, govt depts owe more than Rs 600 crore to Air India

The government has directed its departments and ministries to clear money for tickets purchased on credit from Air India, marking the final stages to settle the airline’s dues from various entities and transfer what it owes to others to a special purpose vehicle setup earlier to take over its liabilities. Read more

Bombay High Court grants bail to Aryan Khan, 2 others in cruise drugs case

Aryan Khan, son of superstar Shah Rukh Khan, was on Thursday granted bail by the Bombay High Court, over 20 days after his arrest in the case of seizure of banned drugs aboard a cruise ship off the Mumbai coast.

A single bench of Justice N W Sambre also granted bail to his co-accused Arbaaz Merchant and Munmun Dhamecha. "All three pleas are allowed. I will pass detailed orders by tomorrow evening," Justice Sambre said. Read more