Page 8 - Interglobe Aviation

SpiceJet tanks 4% as airline sends 80 pilots on Leave Without Pay

The low-cost airline has been reporting losses for the past four years and is operating less than 50 per cent flights, following the July 27 DGCA order in the wake of mishaps.

Rakesh Gangwal, wife sell 2.7% stake in InterGlobe Aviation for Rs 2,005 cr

IndiGo Airlines co-promoter Rakesh Gangwal and his wife on Thursday divested 2.74 per cent stake in the parent company InterGlobe Aviation for Rs 2,005 crore through open market transactions. Gangwal had resigned from the board of directors of the company in February 2022, stating that he will gradually reduce his equity stake over the next five years. Gangwal along with Rahul Bhatia co-founded the low-cost carrier IndiGo airlines. According to the bulk deal data available with the National Stock Exchange (NSE), Gangwal and his wife Shobha Gangwal sold a total of 1.05 crore shares, amounting to 2.74 per cent stake in the company. The shares were sold in the range of Rs 1,886.47 - Rs 1,901.34 apiece, valuing the transaction at Rs 2,004.77 crore. As of June quarter, Gangwal and his family owned 36.61 per cent stake in the low-cost carrier, where Gangwal and his wife held 14.6 per cent and 8.39 per cent stake, respectively, while the rest of the balance is held by Chinkerpoo Family .

InterGlobe Aviation dips 5% on news of partial stake sale by Rakesh Gangwal

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.

Gangwal may sell up to 2.8% in IndiGo Airlines for Rs 2,000 cr: Sources

Stake sale being brokered by three investment banks, says another source; Gangwal and his group currently own 36.6% in InterGlobe Aviation, Bhatia's camp owns 38.17%

Top headlines: RBI's Shaktikanta Das on bank capital, ITC m-cap and more

RBI Governor on economic uncertainties to Sri Lanka privatising its national airline, here are the top headlines

Could an Indian airline be in race for SriLankan Airlines stake buy?

Even if things improve, it would be hard to keep funding the airline's operations, as the airline has been bleeding money for a while.

Sensex, Nifty end flat post volatile trade; ITC up 2%; Maruti, RIL dip 1%

CLOSING BELL: ITC, the biggest cigarette maker, and the second largest fast moving consumer goods (FMCG) company in India, regained the market capitalisation of Rs 4 trillion on Friday

InterGlobe Aviation shareholders approve appointment of three directors

Shareholders of InterGlobe Aviation have approved the appointment of three directors and re-appointment of Anil Parashar as a director. At the annual general meeting of the company, the parent of the country's largest airline IndiGo, gave their nod for the appointment of Air Chief Marshal (Retd) Birender Singh Dhanoa and former Shell India chairman Vikram Singh Mehta as independent directors. Former Sebi chief Meleveetil Damodaran has been appointed as a non-independent non-executive director while Anil Parashar has been re-appointed as a director, according to a regulatory filing on Friday. In the three months ended June 2022, the company posted a loss of Rs 1,064 crore.

Sensex up 54 pts, Nifty holds 17,600; NDTV gains 5%, Adani Enterprises 4%

CLOSING BELL: Technically, shares of NDTV have rallied four-fold since December 2021, staging one of its biggest rally since 2007-08

Stocks to watch: NDTV, RIL, Canara Bank, Tata Motors, NTPC, NHPC, Hindalco

Stocks to watch today: Adani Group plans to buy 29.18 per cent stake in NDTV; Canara Bank plans to raise up to Rs 3,500 crore via tier II bonds.

IndiGo stock may reach for the skies soon if fuel prices cool off: Analysts

InterGlobe Aviation Q1: A strong revival in air passenger traffic going ahead, coupled with better cost management, and network (route) expansion may support IndiGo's profitability in the medium term

Sensex snaps 6-day winning streak ahead of RBI policy outcome, dips 52 pts

CLOSING BELL: PSU banks were the worst hit today with the Nifty PSB index down 1.75 per cent

Fag-end buying lifts Sensex 214 pts; Nifty nears 17,400; IT stocks dazzle

CLOSING BELL: All sectors, except IT and Financial Services, witnessed selling pressure today, led by auto, pharma, and public sector banks

IndiGo Q1 preview: Analysts expect loss to narrow despite high ATF prices

InterGlobe Aviation Q1FY23 results: Analysts expect IndiGo's net loss to narrow sharply due to increased air traffic

IndiGo airlines: Financial headwinds make aviation leader's flight wobbly

For the quarter ended March 2022, which was impacted by the 'Omicron' wave, IndiGo reported a net loss of Rs 16,818 million.

Damodaran returns to IndiGo board as non-independent non-executive director

The Board of Directors of InterGlobe Aviation has approved the appointment of Damodaran as Non-Independent Non-Executive Director, subject to shareholders' approval, a company statement said.

Cost turbulence, rising competition may put pressure on airline stocks

Price hikes may plague demand, robust passenger traffic notwithstanding

Aviation stocks: SpiceJet tumbles 7%; IndiGo tanks over 5% over ATF rise

Shares of aviation firms SpiceJet and InterGlobe Aviation came under heavy selling on Thursday after ATF prices were raised to a record high.

Centrum Broking gives 'buy' call for IndiGo with target price of Rs 2,284

IndiGo continues to consolidate its domestic leadership position and is making a major push towards international markets through codeshares

IndiGo Q4 numbers modest, but stock rises on hope of profit, traffic

Sustained growth in air travel and pricing discipline are key parameters for India's largest airline.