Apart from IndiGo, Tata group-owned Air India, could be the second key beneficiary given its strong fleet and balance-sheet strength
On Tuesday, Go First filed for bankruptcy with the National Company Law Tribunal, blaming Pratt & Whitney engines for the grounding of about half its fleet
Stocks to Watch: Shares of aviation firms, such as IndiGo, SpiceJet, Jet Airways, are likely to be in focus on May 03 after Go First filed for insolvency proceeding on Tuesday.
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The company is confident that it will return to operational profitability in Q3
Till 09:26 am; around 19.67 million equity shares, representing 5.1 per cent of the airline's total equity, changed hands on the NSE and BSE.
Shares of InterGlobe Aviation opened at Rs 2,070.05, then gained further to touch 2,080.80, registering a jump of 2.09 per cent over its last close.
Indian aviation regulator DGCA directed the low-cost airline to operate only 50 per cent of its flights for eight weeks.
Stocks to watch today: Axis Bank, Tata Steel will report their June quarter 2022 results (Q1FY23) on Monday, July 25; Infosys delivered net profit for Q1 below street expectations at Rs 5,360 crore.
Shares of aviation firms SpiceJet and InterGlobe Aviation came under heavy selling on Thursday after ATF prices were raised to a record high.
Jet Airways has crossed the 200-weekly moving average (WMA) for the first time since mid-2018, a period of almost 4 years, which indicates an underneath positive bias
Airlines currently face a challenging time ahead on account of record high ATF prices, which are likely to increase further on the back of Russia-Ukraine conflict, says an analyst
Both, Indigo and SpiceJet had broken major key levels; For reversal to take place these stocks need to conquer near-term hurdles and show sustainability.
Oil prices climbed towards their highest levels in more than seven years on Monday on fears that a possible invasion of Ukraine by Russia could trigger sanctions (on the latter) from US and Europe
IndiGo swung back into profit, posting a PAT of Rs 129.79 crore in the December quarter, after registering seven consecutive quarters of loss
These companies have significant exposure to price movement of Aviation Turbine Fuel (ATF) which is a derivative of crude oil.
However, near-term concerns will continue to weigh on the stocks as Omicron spread puts a spanner on the growth trajectory, say analysts
These stocks have corrected between 10-20 per cent over the last one month relative to benchmarks' 3 per cent fall. Here's a possible way forward for these stocks
The broader markets outperformed, the BSE Midcap and Smallcap indices were up 0.3 per cent and 0.8 per cent, respectively
Maruti and Asian Paints were the top gainers among the Sensex 30 stocks, up 2.3 per cent each