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Coforge and IndiGo join Morgan Stanley's focus list replacing Infosys and M&M
Coforge Ltd. and InterGlobe Aviation Ltd. have been added to Morgan Stanley's 'focus list', replacing Infosys Ltd. and Mahindra & Mahindra Ltd. Analysts highlight Coforge's strong growth potential, driven by effective management and significant deal momentum, despite its year-to-date underperformance. With a 30% valuation premium over larger peers, Morgan Stanley anticipates this gap will widen as growth accelerates.
IndiGo faces forex losses but remains a buy for analysts
IndiGo's Q3 results showed an 18% year-on-year decline in net profit, primarily due to foreign exchange losses of Rs 1,456.4 crore. UBS raised its price target to Rs 5,400, citing strong demand growth, while Goldman Sachs lowered its target to Rs 4,650, reflecting concerns over forex and fuel prices. Despite near-term challenges, both brokerages maintain a positive outlook on IndiGo's competitive positioning in the Indian aviation market.
stocks to watch airtel nestle mazagon dock indigo and exide
Airtel, Nestle India, Mazagon Dock, IndiGo, Exide, and Hyundai are among the key stocks to monitor ahead of Friday's trading session. Additionally, International Gemmological Institution Ltd. will attract attention as it makes its market debut on the same day.
Mahindra Renames SUV to BE 6 Amid Trademark Dispute with IndiGo
Mahindra & Mahindra has decided to rename its newly launched electric SUV from 'BE 6e' to 'BE 6' amid a trademark dispute with InterGlobe Aviation, which owns IndiGo airlines. The company argues that the two brands operate in entirely different sectors, minimizing any potential confusion. Mahindra also highlighted a past instance where Tata Motors objected to the IndiGo name, suggesting inconsistency in InterGlobe's current objections.
IndiGo flight makes emergency landing after bomb threat turns out hoax
An IndiGo flight from Nagpur to Kolkata made an emergency landing in Raipur on November 14 after a bomb threat, which was later confirmed to be a hoax. The aircraft, carrying 187 passengers and six crew members, landed safely at Swami Vivekananda Airport after a passenger alerted the crew mid-flight. Following the incident, a passenger was detained for questioning.
IndiGo reports mixed Q2 FY25 results amid strong demand outlook
IndiGo reported weak Q2 FY25 results due to grounded aircraft and rising fuel costs, despite a robust demand environment. The international segment is recovering, and the introduction of business class could drive future growth. Valuations are reasonable, suggesting a potential accumulation of the stock.
Indian markets decline for fifth session as selling pressure persists
Indian markets continued their decline for the fifth consecutive session on October 25, with the Nifty dropping to 24,180.80, down 0.90%, and the Sensex falling 662.87 points to 79,402.29. All sectors, except FMCG, faced losses, with notable declines in auto, capital goods, and metal. For the week, both BSE Sensex and Nifty50 recorded losses exceeding 2%.
Q2 2024 earnings season gains momentum with major companies reporting results
Major companies including Coal India, JSW Steel, DLF, and Interglobe Aviation are set to release their Q2 earnings reports today, joining a wave of firms that have already reported results. Notable performances include Reliance Industries with a profit decline of 4.8%, while HCL Technologies and TCS reported profit increases of 10.5% and 5.0%, respectively. ICRA's profit rose by 15.6% to Rs 36.72 crore, and Oracle Financial Services Software saw a significant profit increase of 38.4% to Rs 577.70 crore.
IndiGo reports unexpected loss due to rising fuel and maintenance costs
IndiGo, India's largest airline, reported a surprising loss of 9.9 billion rupees ($118 million) for the quarter ending September 30, marking its first loss in two years. This downturn was attributed to increased fuel expenses and a significant rise in maintenance costs, contrary to analysts' expectations of a profit of 1.34 billion rupees.
IndiGo reports Rs 987 crore loss despite revenue growth in Q2 FY25
InterGlobe Aviation, operator of IndiGo, reported a net loss of Rs 987 crore for Q2 FY25, a stark contrast to a profit of Rs 189 crore in the same quarter last year. Despite a 13.6% increase in revenues to Rs 16,969.6 crore, rising airport fees, maintenance costs, and fuel expenses significantly impacted profitability. Shares closed 3.2% lower at Rs 4,373.7.
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