Purbalee Dutta

IndiGo’s operational crisis continued for a seventh straight day on December 8, with the airline cancelling more than 250 flights across major airports. According to reports, 251 flights were grounded at Delhi and Bengaluru alone. Delhi airport saw 134 cancellations — 75 departures and 59 arrivals — while Bengaluru’s Kempegowda International Airport recorded 127 cancellations, affecting 65 arrivals and 62 departures. Additional disruptions were reported nationwide: five flights were cancelled in Thiruvananthapuram, eighteen in Ahmedabad, and seventy-seven in Hyderabad. Jaipur airport also faced multiple IndiGo cancellations, though authorities said passenger movement remained calm. However, travellers were left waiting for updates…

Biocon, the Bengaluru-based biopharmaceutical company, has announced that it will fully merge Biocon Biologics Ltd (BBL) into Biocon Ltd, making BBL a wholly owned subsidiary. Founder and executive chairperson Kiran Mazumdar-Shaw described the move as value-enhancing for investors and said the unified organisation will be better equipped to meet patients’ needs, particularly in diabetes care. Explaining the rationale, she noted that markets had consistently undervalued both entities, partly due to BBL’s earlier debt load, which would have hindered a successful IPO. She highlighted that BBL’s debt-to-EBITDA ratio has fallen from 4.3 in 2020 to 2.5 now, and is expected to…

India’s economy delivered an unexpected boost in the July–September quarter, clocking 8.2% growth—its fastest in six quarters—according to data from the statistics ministry. The figure surpassed both the RBI’s 7% estimate and the Mint poll forecast of 7.2%. Although economists attributed part of the rise to record-low inflation, the strong reading has reduced the likelihood of an RBI rate cut in December. Bond markets reacted quickly, with the benchmark 10-year yield rising to 6.5463%. The latest growth number compares favourably with last year’s 5.6% and the previous quarter’s 7.8%. Chief economic advisor V. Anantha Nageswaran noted that full-year growth should…