Indigo shares jump over 4% after rating, target upgrades

Shares of Interglobe Aviation which operates airline Indigo jumped 4.4% on Tuesday to hit a fresh 52-week high of Rs 3,429.90 on the NSE after a couple of top brokerages took favourable views on the counter. While Jefferies upgraded its rating to ‘Hold’ from ‘Underperform’, Kotak Institutional Equities reiterated a buy and raised the price […]

NSE Rejig: $94 million cumulative passive inflows seen in NTPC, 2 other PSU stocks, says Nuvama

State-run NTPC, NHPC and NLC India will see their weights go up on the Nifty CPSE following a semi-annual rejig in the index, effective from Thursday, March 28. The adjustment will likely trigger passive cumulative inflows of $94 million according to estimates by Nuvama. A lion’s share will be contributed by NTPC ($71 million) followed […]

Given political will, aerospace power can be effectively used beyond enemy lines: IAF chief

New Delhi: IAF Chief Air Chief Marshal V R Chaudhari on Wednesday said that “Balakot-like operations” have shown that given political will, aerospace power can be effectively used beyond enemy lines. In his address at a seminar on “Aerospace Power in Future Conflicts”, he also said that as nations increasingly rely on space-based assets for […]

SpiceJet reaches settlement with Canada’s EDC to resolve liabilities worth Rs 755 cr

Private carrier SpiceJet has reached a settlement agreement with Export Development Canada (EDC) to resolve liabilities worth Rs 755 crore, the company said in a stock exchange filing on Tuesday. This settlement agreement will help SpiceJet save Rs 567 crore, it said. As part of the settlement agreement, SpiceJet will acquire 13 EDC-financed A400 aircraft. […]

IndiGo will use its cash reserve to become future ready: CFO Gaurav Negi

IndiGo’s leaner cost structure has helped India’s largest airline to emerge from Covid “more stronger” and its superior cost efficiency model will keep it ahead of rivals at a time when India’s civil aviation sector is undergoing consolidation, said a top company official. Four years ago, India announced a nationwide lockdown aimed at controlling the […]