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Air India Crash: What Is A Black Box And How It Could Help Probe
- Air India flight AI 171's black box is being sought after the recent crash, though its location remains unconfirmed.
- The 'black box' on aircraft, formally known as the flight recorder, is a critical safety tool in aviation.
- The black box consists of a Flight Data Recorder (FDR) and a Cockpit Voice Recorder (CVR) that record crucial flight information like conversations, alarms, and technical parameters.
- The orange-colored black box is designed to survive extreme conditions and provide insights into the aircraft's performance during its final moments.
- Modern black boxes utilize solid-state memory chips for reliability and can store vast amounts of data covering up to 25 hours.
- Innovations like satellite-based data streaming and automatic deployable recorders are being explored to enhance black box capabilities.
- Black boxes help investigators determine the causes of air crashes by analyzing human error, mechanical failures, or external influences.
- Previous air crash investigations, including the 2020 Kozhikode incident and cases like Malaysia Airlines 370 and Germanwings 9525, relied heavily on black box data.
- The black box from the Air India crash is crucial for the ongoing investigation, providing vital information once located and recovered.
- Search efforts are ongoing near Ahmedabad to locate the black box amidst the wreckage.
- The black box serves as a vital tool in air crash investigations, assisting in uncovering the truth behind accidents.
- The black box data could reveal whether factors like human error, technical malfunctions, or external forces played a role in the Air India crash.
- Black box data has been instrumental in past air crash inquiries, shedding light on the causes of various incidents.
- Understanding the contents of the black box from the Air India crash is crucial for determining the sequence of events leading to the tragic accident.
- Efforts are underway to recover the black box from the Air India flight to aid in the investigation.
- The search for the black box is a key aspect of the post-crash investigation to unveil the factors contributing to the accident.
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Asian Paints Share Price Slides After Reliance Sells Stake
- Reliance Industries sold equity worth Rs 7,703 crore in Asian Paints through its affiliate Siddhant Commercials Ltd.
- The sale involved 3.5 crore equity shares at Rs 2,201 per share.
- SBI Mutual Fund was the sole buyer of these shares.
- Shares of Asian Paints fell over 2% following the stake sale by Reliance Industries.
- Asian Paints' stock price dropped by 2.01% to Rs 2,174 apiece.
- Afterward, it traded 1.06% lower at Rs 2,195 apiece.
- The stock has declined by 24.54% in the last 12 months.
- Analysts' consensus price target implies an upside of 23.7% for Asian Paints.
- SBI Mutual Fund, previously holding a 1.51% stake in Asian Paints, has now increased its shareholding.
- Reliance Industries retains 87 lakh equity shares in Asian Paints post the stake sale.
- The sale represented 3.64% of Asian Paints' total equity.
- Siddhant Commercials previously held a 4.9% stake in the paint manufacturer.
- 39 analysts tracking the company have varied opinions on Asian Paints' stock.
- The stock's relative strength index was at 31.
- The article discusses how the stock performed compared to broader market indices like the NSE Nifty 50.
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Solo Trips, EMI-Based Travel Plans: Cleartrip Reveals Preferences Of Gen Z
- Gen Z, individuals born between 1997 and 2012, are choosing to travel solo more than any other age group, preferring personal experiences over shared decisions, according to Cleartrip.
- Cleartrip's report highlights that Gen Z values independence, flexibility, comfort, and personal freedom in travel, reflecting a shift from older generations.
- Solo trips among Gen Z are 7% higher than other age groups, with a focus on lifestyle choices and self-expression through travel.
- Gen Z travellers are digitally savvy, prefer personalised and comfortable experiences, often opting for solo or niche travel over traditional group itineraries.
- The data reveals that Gen Z is more open to exploring offbeat, experience-driven destinations and managing travel expenses by leaning into UPI, debit cards, and EMI-based payments.
- Gen Z travellers exhibit a preference for comfortable and luxurious travel, even with budget constraints, as indicated in the Cleartrip report.
- Interestingly, Gen Z shows a preference for meal-attached bookings and displays a higher tendency to use app-based reward points and travel coupons compared to other age groups.
- The insights suggest a shift in travel behavior among young Indians, pointing towards a new future in India's travel landscape.
- The report indicates that Gen Z's travel choices and payment methods are reshaping the tourism and hospitality industry, emphasizing unique perspectives and preferences.
- Cleartrip's data insights provide an overview of how Gen Z is influencing the travel sector, emphasizing comfort, personalization, and experiences in their travel decisions.
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Bloomberg Quint
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Iran-Israel Conflict Sees 16 Air India Flights Diverted Or Returning Home — Check List
- Air India has announced the diversion or return of several international flights due to the closure of Iranian airspace amidst escalating tensions between Iran and Israel.
- The airline stated that 16 of its international flights will be rerouted or return to their departure airports, including flights heading to London and New York.
- Flights like AI130 (London Heathrow to Mumbai), AI102 (New York to Delhi), and AI116 (New York to Mumbai) are affected.
- Passengers are advised to check flight status through Air India's official page and refunds on cancellation and rescheduling are offered without additional costs.
- Alternative flights are being arranged for impacted passengers, with details expected soon.
- The closure of Iranian airspace and ongoing tensions have disrupted flight operations in the region, with Israel launching strikes on Iran in what Prime Minister Netanyahu described as a defensive action.
- The strikes led to the death of Hossein Salami, head of Iran's Revolutionary Guard Corps, heightening the risk of further escalation if Iran retaliates.
- The situation in the Middle East has caused significant disruptions, impacting various aspects including flight operations and international routes.
- The conflict between Iran and Israel continues to unfold amidst rising tensions in the region.
- As tensions escalate, Air India and other airlines are taking precautions to ensure the safety and security of passengers amidst the volatile situation.
- The conflict has led to uncertainties in the region, affecting travel plans and necessitating adjustments to flight schedules to navigate the complex geopolitical landscape.
- The evolving situation underscores the challenges faced by airlines operating in regions prone to geopolitical tensions and conflicts.
- It is crucial for travelers to stay informed about the latest updates and advisories from airlines and authorities for smooth travel experiences during such uncertain times.
- The closure of Iranian airspace due to the conflict has triggered a series of flight diversions and returns, impacting the travel plans of many passengers.
- As the situation develops, Air India and other carriers are closely monitoring and adjusting their operations to minimize disruptions for travelers.
- Despite the challenges posed by the conflict, airlines are working to manage the impact on their services and passengers while prioritizing safety and security measures.
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ONGC, Oil India Shares Rise On Rising Crude Oil Prices
- Shares of ONGC and Oil India rose as crude oil prices surged amidst Israel's air strikes in Iran, improving outlook on oil producers' earnings.
- ONGC shares increased by 3.09% to Rs 255.55 per share, while Oil India was up by 2.49% to Rs 480 per share.
- Brent crude August futures soared 13.8% to $78.50 a barrel, reaching the highest level since Jan. 27, trading at $75.36 a barrel on Friday.
- After a decline, crude prices saw a reversal due to escalating Middle East tensions, with Brent Crude rising from below $59 in May to over $78 in the latest session.
- Iran, a major oil producer, faces tensions with Israel following recent attacks, leading to fears of retaliatory actions and impacting global oil markets.
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Oswal Pumps IPO: Check Day One Subscription Status, GMP, Price Band And More
- Oswal Pumps IPO was subscribed 16% on the first day of bidding with a grey market premium of Rs 65, implying a likely listing at Rs 679 per share.
- The IPO includes fresh equity shares worth Rs 1,000 crore and an offer for sale component worth Rs 497.34 crore, with a price band set at Rs 584–614 per share.
- The company plans to use the net proceeds to fund its new manufacturing unit in Karnal, Haryana, invest in Oswal Solar, repay borrowings, and for other corporate purposes.
- The IPO opened on June 13 and will close on June 17, with a lot size of minimum 24 shares and then in multiples thereof.
- Oswal Pumps manufactures various pumps, electric motors, and solar modules under the 'Oswal' brand for agricultural, residential, and commercial use.
- Subscription status on day one: Qualified institutional buyers subscribed nil, non-institutional investors at 22%, and retail investors at 21%.
- Grey Market Premium (GMP) for the IPO at Rs 65, indicated a 10.59% premium to the upper end of the price band, though GMP is based on speculation.
- Investments in IPOs are subject to market risks; individuals are advised to consult with financial advisors and thoroughly read the red herring prospectus before investing.
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Hossein Salami Killed In Israeli Strike — All About Iran Revolutionary Guards Chief
- Iranian state TV confirmed the death of Hossein Salami, head of the Islamic Revolutionary Guard Corps, following Israeli strikes on Friday.
- Israeli Prime Minister Benjamin Netanyahu claimed the strikes targeted Iran's nuclear and military infrastructure and key officials.
- Salami's death is a significant blow to the Iran Revolutionary Guard, a key power center within Iran with vast business interests.
- Hossein Salami was appointed as the head of the Guard by Iran's Supreme Leader in April 2019, succeeding Major General Mohammad Ali Jafari.
- Born in 1960, Salami joined the Revolutionary Guard in 1980 during the Iran-Iraq War and rose through the ranks.
- Salami was known for his strong anti-US rhetoric and oversaw Iran's first direct military attack against Israel in 2024.
- He maintained close ties with Iran's Supreme Leader and expanded the Guard's influence in supporting groups like Hamas and the Houthis.
- Salami became the IRGC chief shortly after the US designated the organization a terrorist group.
- The death of Salami raises tensions in the region and may have implications for Iran-Israel relations and global oil prices.
- Netanyahu's statement about the strike suggests ongoing military operations against Iran's perceived threats.
- The conflict between Israel and Iran continues to impact global markets as oil prices surge amidst escalating tensions.
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Bloomberg Quint
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Air India Crash: How Insurance Claims Are Likely To Play Out
- An Air India flight crashed shortly after takeoff, possibly leading to India's most expensive aviation claim amounting to Rs 2,400 crore.
- Airline fleet insurance policies cover risks like aircraft hulls, spare parts, and liabilities to passengers and third parties, with potential for substantial compensation in case of passenger injury or death.
- Passenger injury or death liability includes two tiers: strict liability for up to Rs 75 lakh and fault-based liability beyond that amount, requiring proof of lack of negligence.
- For domestic flights, the DGCA mandates a maximum liability of Rs 20,000 per passenger for checked baggage, while international flights align with Montreal Convention standards.
- SDR (Special Drawing Rights) serves as an international reserve asset based on a basket of currencies, determining liability for airlines in case of incidents.
- Passengers can receive no-fault compensation of up to Rs 75 lakh to avoid lengthy legal battles, with the possibility of higher compensation if negligence is proven.
- The nationality of passengers and third-party property damage liability will impact the overall liability on the operator, as explained by an insurance industry expert.
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Bloomberg Quint
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SpiceJet, IndiGo Shares Fall Over 5% Post Air India Crash; Crude Oil Rise Weighs Sentiments
- SpiceJet and IndiGo shares fell over 5% following the Air India crash, with SpiceJet stock down 5.64% and InterGlobe Aviation down 5.49% to a one-month low.
- Air India flight AI-171 crashed with 242 passengers on board, resulting in one survivor who is receiving treatment.
- The Ministry of Civil Aviation is considering a safety review of Boeing 787 Dreamliners after the crash, potentially grounding the aircraft as a precaution.
- Air India uses the 787-8 Dreamliners for international routes and was expecting more aircraft in its fleet.
- Global authorities are expected to investigate Dreamliner safety protocols after the crash as multiple incidents have raised concerns in recent years.
- In addition to the Air India crash impact, market sentiments were also influenced by reports of an Israeli airstrike in Iran, leading to geopolitical tensions.
- Israeli Prime Minister Netanyahu stated the airstrike targeted military and nuclear sites in Iran, eliciting a strong response from Iran's Supreme Leader.
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Mumbai Rains: IMD Issues Yellow, Orange Alerts For Mumbai, Thane And Other Maharashtra Districts
- The India Meteorological Department (IMD) has issued yellow and orange alerts for Mumbai, Thane, and other districts in Maharashtra due to intense monsoon activity predicted over the next three days.
- IMD forecasts light to moderate rainfall in various parts of Maharashtra between June 13 and 16, accompanied by thunderstorms and gusty winds.
- Mumbai is under a yellow alert on June 13, with moderate rainfall, thunderstorms, and strong winds expected. An orange alert is issued for June 14, indicating very heavy showers with similar weather conditions. A yellow alert is in place for June 15.
- Thane district follows a similar pattern with heavy to very heavy rainfall expected on June 13, an orange alert for June 14, and a yellow alert for June 15.
- Palghar, Raigad, and Ratnagiri districts have varying alert levels over the next three days, with predictions of rain, thunderstorms, and strong winds.
- Sindhudurg will experience an orange alert on June 13 and 14, with forecasts of heavy to very heavy rainfall and thunderstorms. The alert is raised to red on June 15 for very heavy rainfall.
- Several other districts like Pune, Kolhapur, Nashik, and Solapur have been issued yellow and green alerts, while locals are advised to exercise caution, especially in red and orange alert areas.
- Residents are urged to stay indoors during heavy rain and lightning, and to follow local weather advisories for safety.
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Bloomberg Quint
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Air India Crash: How Long Does It Take For Black Box Details To Emerge? Learnings From Previous Incidents
- London-bound Air India AI171, a Boeing 787 Dreamliner aircraft, crashed in Ahmedabad, shortly after takeoff, resulting in the tragic death of 241 people onboard, including former Gujarat Chief Minister Vijay Rupani.
- One black box of the crashed Air India flight has been recovered, while the search for the second black box is ongoing to determine the cause of the accident.
- A survivor, Vishwash Kumar Ramesh, mentioned hearing a loud bang as the plane struggled to gain altitude before crashing near the airport.
- Investigation officials are expected to retrieve crucial data from the black box, combing through the cockpit voice recorder and flight data recorder for insights into the tragic incident.
- The detailed investigation process involving analyzing the black box data can take weeks to months, depending on factors like extent of damage and the complexity of the accident.
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Reliance Industries Share Price Falls As Israel-Iran Conflict Triggers Crude Oil Rally
- Reliance Industries' share price fell as oil prices surged due to Israel's military strikes on Iran, causing concerns of a wider conflict in a key crude oil region.
- Brent crude rose over 13% and West Texas Intermediate also surged, experiencing the largest one-day gains since May 2022.
- Israeli Prime Minister Benjamin Netanyahu mentioned the strikes targeted Iran's nuclear program and military capabilities, with ongoing operations until the perceived threat is eliminated.
- The escalation in tensions led to fears of oil supply disruptions, impacting global supply chains and increasing uncertainties in the region.
- The conflict also raises doubts about the upcoming nuclear talks between the US and Iran, as President Donald Trump expressed skepticism about reaching a deal amid the heightened tensions.
- Despite initial losses, Reliance's share price only decreased by 1.18% following the oil price surge, outperforming the 1.15% drop in the NSE Nifty 50 Index.
- Reliance's stock has seen a YTD rise of 18.61% but a 1.61% dip in the last 12 months, with analysts mostly maintaining a 'buy' rating with an average upside potential of 8%.
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Israel-Iran Conflict: HPCL, BPCL, IOC See Red On Dalal Street
- Shares of oil marketing companies like HPCL, BPCL, and IOC fell on Friday as a result of Israel's airstrikes on Iran's nuclear power plants.
- The airstrikes by Israel have heightened the conflict over Tehran's nuclear program, increasing the risk of a new war in the Middle East.
- Israeli Prime Minister Benjamin Netanyahu declared a special 'State of Emergency' in response to the airstrikes on Iran.
- Gold prices and safe-haven assets surged following the airstrikes, indicating heightened fears of escalating conflict in the region.
- The US embassy in Iraq is being evacuated and non-essential embassy personnel in Bahrain and Kuwait are ordered to leave amid the escalating tensions.
- The British Navy issued a warning to ships in the Persian Gulf, Gulf of Oman, and the Strait of Hormuz due to the volatile situation.
- Global markets are reacting to the increased geopolitical risks as a result of the Israel-Iran conflict.
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Iran-Israel Conflict: JPMorgan Anticipates $120 Oil Spike, Maintains $60 Base Case For 2025-26
- Israel has launched airstrikes targeting Iran's nuclear facilities, escalating tensions over Tehran's atomic program and causing global oil prices to surge by 9.3% due to heightened security risks in the Middle East.
- JPMorgan had previously indicated a 7% probability of a worst-case scenario affecting oil supply, with recent airstrikes materializing this prediction, leading to higher oil prices.
- JPMorgan anticipates that an attack on Iran could spike oil prices to $120, potentially driving the US CPI to 5% but downplays the likelihood of the closure of the Strait of Hormuz.
- Despite ongoing tensions, JPMorgan maintains a base case for oil prices in the low-to-mid $60s for 2025 and $60 for 2026, emphasizing the unpredictability of future price movements.
- Major players in the Middle East are motivated to contain the conflict as the economic transformation in the Gulf region necessitates a sustained absence of conflict, as highlighted in the JPMorgan report.
- Amid rising tensions, the US embassy in Iraq prepares for evacuation, and non-essential embassy personnel and families are ordered to leave Bahrain and Kuwait, while ships in the region are cautioned by the British Navy.
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Iran's Revolutionary Guards Chief Hossein Salami Killed In Israeli Airstrike
- Israel launched airstrikes on Iran, resulting in the death of Major General Hossein Salami, the chief of Iran's Revolutionary Guards, along with veteran nuclear scientists Mohammad-Mehdi Tehranchi and Fereydoon Abbasi in separate attacks.
- The airstrikes have significantly escalated the conflict over Tehran's nuclear program, raising the potential for a new war in the Middle East.
- Explosions were heard in Tehran after the Israeli airstrikes, prompting Iran to vow retaliation against any attack.
- Israeli Prime Minister Benjamin Netanyahu declared a special 'State of Emergency' for the country after the airstrikes on Iran's nuclear power plant.
- Gold prices and safe-haven assets rose following the attacks, reflecting heightened fears of increased conflict in the Middle East, with bullion climbing up to 1.3%.
- The US embassy in Iraq is preparing for evacuation, and the US State Department announced plans to order non-essential embassy personnel and families to leave Bahrain and Kuwait.
- The British Navy issued a rare warning to ships in the region, advising caution in the Persian Gulf, the Gulf of Oman, and the Strait of Hormuz.
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