All these carriers have been majorly hit by two cost components - aviation turbine fuel (ATF) costs and currency fluctuations.

Oil prices were seen climbing to $100 per barrel when sanctions on Iran's oil and gas sector came into effect on November 5. But prices have reversed direction during the last 12 straight days.

When positive and negative forces emerge in quick succession, market oscillates between optimism and pessimism, favouring the bulls and bears in alternate bouts of buying and selling.

The government nominee directors and a few independent directors could raise the issue of interim dividend along with the capital framework of RBI during the upcoming board meeting.

Demonetisation and GST are the two major headwinds that held back India's economic growth last year, Raghuram Rajan said, asserting that the current seven per cent growth rate is not enough for India.