Benchmark indices Sensex and Nifty extended their bull run on Friday, led by bank stocks such as ICICI Bank (up 2.96 percent), State Bank of India, or SBI (up 2.07 percent) and GAIL (up 1.34 percent).
The Sensex was trading 137 points higher at 29,469, while the NSE Nifty was up 35 points at 9,122, at around 10.58 am. Meanwhile, private carriers belonging to the Federation of Indian Airlines have said that they have decided to ban Shiv Sena MP Ravindra Gaikwad from flying on their flights, after denying media reports on the development.
Bank stocks were outperforming the Sensex, with the BSE Bankex up 1.14 percent, led by Bank of Baroda, ICICI Bank and Punjab National Bank.
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Stocks that were trading with huge gains outside the benchmark indices included IndiGo Airlines-parent Interglobe Aviation (up 4.93 percent at Rs 1,025), REC (up 4.71 percent at Rs 174), Federal Bank (up 2.38 percent at Rs 90) and Power Finance Corporation (up 3.36 percent at Rs 148).
Fortis Healthcare was trading 2.69 percent higher at Rs 181.
Carriers blacklist Indian lawmaker who "slapped" Air India staffer 25 times?
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The Federation of Indian Airlines (FIA) comprising Jet Airways, SpiceJet, IndiGo Airlines and GoAir denied reports that it has banned Shiv Sena MP Ravindra Gaikwad who claimed to have "slapped" a 60-year-old Air India staffer 25 times for not providing business class ticket on a Pune-Delhi flight on Thursday.
"We have not banned the MP. We do not have powers to ban anyone. In any case, Air India is not part of the FIA," Ujjwal Dey, director of the FIA, was quoted as saying by the Hindustan Times on Friday. However, a tweet by ANI quoting the four member-airlines of FIA said they have decided to ban him.
Gaikwad possessed an open ticket for business class but the flight he chose to travel had only economy class. Unmindful of this, he created a ruckus, apart from assaulting the Air India staffer, sparking nationwide outrage and condemnation. The victim, Sukumar, said MPs ought to behave in a decent manner.
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A politician with many cases against his name including criminal intimidation (section 506 of the Indian Penal Code), Gaikwad shot into infamy when he force-fed food a Muslim staffer working at the Maharashtra Sadan in New Delhi three years ago.
The staffer was observing a fast during Ramzan. Gaikwad was one of the 11 Shiv Sena MPs who were involved in the incident. They were making a point to express their unhappiness over the poor quality of food being served there.
Jet Airways was trading 2.42 percent higher at Rs 493 and SpiceJet was up 2.09 percent at Rs 95.35 after hitting yet another 52-week high of Rs 97.40 on Friday morning.