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Sony Shares Slide on ‘Monumental Challenge’ From Microsoft-Activision Gaming Deal

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3 years ago

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Sony Shares Slide on ‘Monumental Challenge’ From Microsoft-Activision Gaming Deal

Shares in Japan’s Sony Group fell 9 percent on Wednesday after gaming rival Microsoft said it would buy developer Activision Blizzard for a record $68.7 billion (about Rs 512,375 crore).

While Sony’s PlayStation is widely seen as leading the generational battle with Microsoft’s Xbox, the acquisition of the Call of Duty maker comes at a time when Microsoft is aggressively expanding its Game Pass subscription service.

In recent years, Sony has beefed up its network of in-house game studios and released a slew of exclusive games, including its Spider-Man franchise, while Microsoft is catching up. Amir Anvarzadeh, a market strategist at Asymmetric Advisors, recommends shorting the stock, he wrote in a note to clients.

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Sony, a pioneer in virtual reality, announced some interesting details about its next-generation headset this month, but deep-pocketed non-traditional players like Facebook owner Meta Platforms are investing in virtual worlds or virtual online worlds.

PlayStation is Activision’s main source of revenue, complicating any potential decision by Microsoft to remove games from Sony’s systems and squeeze its rivals. Many industry watchers believe that operability across multiple platforms is essential for users to play, shop and work freely as the cloud improves ties to the massive gaming hardware that has made Sony and Microsoft the industry gatekeepers.

“If Microsoft continues to offer these games to the (PlaySation) platform as well, it suggests it could be positioning itself in the metaverse for the long term,” Jefferies analyst Atul Goyal wrote in a client note.

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SpiceJet announces 8 new flights to connect Jaipur with Varanasi, Amritsar and Ahmedabad

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2 months ago

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November 6, 2024

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SpiceJet announces 8 new flights to connect Jaipur with Varanasi, Amritsar and Ahmedabad

SpiceJet expands its domestic network with 8 new flights that will connect Jaipur with Varanasi, Amritsar and Ahmedabad and also link Ahmedabad with Pune.

SpiceJet is further expanding its domestic network with the launch of eight new flights starting November 15.

In the statement released on Wednesday, the airline announced that these new routes will connect Jaipur with Varanasi, Amritsar and Ahmedabad, while also linking Ahmedabad with Pune. This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket.

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Last month, SpiceJet also commenced UDAN flights linking Shivamogga in Karnataka with Chennai and Hyderabad, and introduced double daily flights between Chennai and Kochi, enhancing connectivity across key regional and metropolitan cities.

“We are excited to announce the launch of new flights from Jaipur to Varanasi, Amritsar, and Ahmedabad, as well as from Ahmedabad to Pune, providing our passengers with greater flexibility and convenience,” SpiceJet Chief Business Officer Debojo Maharshi said.

“These new flights reflect our commitment to supporting passenger demand across tier-II cities and beyond. With our expanded winter schedule, including international and UDAN routes, we aim to provide our customers with greater convenience, affordability, and seamless travel experiences,” Maharshi added.

SpiceJet will deploy its 78-seater Q400 aircraft in these sectors. Bookings for the new flights are now open and tickets are available at the website of the airline, SpiceJet’s mobile app and through online travel portals and travel agents.

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On Monday, the airline received a significant boost, with Acuite Ratings & Research Limited upgrading its long-term rating by four notches to ‘B ‘ and its short-term rating to A4. The rating agency has also assigned a ‘Stable’ outlook to the airline.

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