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Stocks To Watch: Zomato, Paytm, Adani Ent, Wipro, Vi,…

18 June 2024
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Stocks to watch on June 18: Domestic indices Sensex and Nifty hit their new closing lifetime highs on Friday, following buying in market heavyweights. In today’s trade, shares of Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS among others will be in focus due to various news developments.

Vodafone Idea: Vodafone Idea is preparing to sell its entire $2.3 billion stake in Indus Towers through block deals next week. The stake, totaling 21.5 per cent and held through various entities, may be divested fully or partially based on market demand. This move aligns with Vodafone Idea’s strategy to secure funds for its expansive 5G rollout and bolster 4G coverage.

IndiGo: According to the Directorate General of Civil Aviation, IndiGo’s domestic passenger market share rose to 61.6 per cent in May from 60.6 per cent in April.

Pidilite Industries: Pidilite Industries’ joint venture, ICA Pidilite Private Ltd, has entered into an agreement with Industria Chimica Adriatica SPA (ICA) for the licensing of specific UV technology. This strategic move aims to enhance Pidilite’s capabilities in its niche sectors.

Central Bank of India: The Reserve Bank of India (RBI) has levied fines of Rs 1.45 crore on Central Bank of India and Rs 96.4 lakh on Sonali Bank PLC for non-compliance issues related to loans, advances, and Know Your Customer (KYC) norms.

Brightcom Group: Brightcom Group has committed to releasing its annual results by July 31. Trading of its shares on both BSE and NSE remains suspended pending compliance with the NSE’s master circular. Despite delays, the company is optimistic about avoiding prolonged suspension by reporting its Q3 and Q4 FY24 results by June 11.

LIC: LIC has clarified recent reports regarding its potential entry into the health insurance market through acquisition. The company stated that while it evaluates various strategic opportunities, including partnerships and investments, no formal proposal for such a venture has been initiated at this time.

SpiceJet: SpiceJet’s market share dropped to 4.0 per cent from 4.7 per cent, according to the Directorate General of Civil Aviation.

RIL: Reliance Jio’s technology and telecom industry collaboration with TM Forum has seen an 80% increase in resource contribution from its members, chairman Akash Ambani said.

Hindustan Aeronautics: Hindustan Aeronautics Limited (HAL) said the Defence Ministry has issued a request for proposal (RFP) for 156 light combat helicopters (LCH).

Zomato, Paytm: Online food delivery platform Zomato said on Sunday that it is in talks with Paytm to acquire the financial technology company’s movies and events business.

Wipro: Wipro extended its partnership with Hanesbrands, an apparel brand, to further drive its digital transformation, business growth, and enhance long-term profitability.

Bharti Airtel: Bharti Airtel prepaid Rs 7,904 crore to the department of telecom to clear high cost deferred liabilities for spectrum acquired in 2012 and 2015.

TCS: A US court has ruled that Tata Consultancy Services is liable for misappropriation of trade secrets and levied penal charges of around $194 million on the IT major.

Adani Enterprises: Adani Group’s promoter entities, including billionaire Gautam Adani raised their stake in the flagship entity Adani Enterprises by just over 2%.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Disclaimer:Network18 and TV18 – the companies that operate news18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious abo…Read More

Science & Environment

As T2 shutdown looms, DIAL open to having dedicated…

7 June 2024
by admin

NEW DELHI: The operator of India’s busiest hub – Delhi’s IGIA – is back to the drawing board to figure out the “best possible option” for handling growing international traffic. While T2 will soon be shut after the expanded T1 opens later this month, Delhi International Airport Ltd (DIAL) CEO Videh Kumar Jaipuriar on Friday said all options are open that include having dedicated terminals for airlines (with IndiGo and Air India having massive fleet orders) or having dedicated terminals for international and domestic flights.
“Our current capacity (T1 + T2 + T3) is about 10.4-10.9 crore passengers annually (CPA) of which international is 2.2 crore (with only T3 handling overseas flights.) last year we handled just under 2 crore international passengers and are running out of capacity in this front. With international traffic growing at 8-10% annually & domestic-international transfers increasing, we need to have more capacity for foreign traffic,” Jaipuriar said at a CAPA event on Friday.
The two short term options that can be executed in 6-12 months are converting T2 to all-international or converting a domestic pier in T3 to international. No firm decision has been taken yet on which option will be exercised, he said.
“The shift from T2 to the expanded T1 (when it opens after getting security clearance later this month) will happen in phases. In about 15-day gaps we will do the shifting and complete the process within two months,” the CEO said.
India’s biggest airline — IndiGo — is learnt to have objected as it will have all its international flights from T3 and all domestic from T1 (once the shift from T2 is completed). AI Group, on the other hand, IndiGo has told DIAL will have all international and most domestic flights from the same terminal T3. “The entire trouble of transferring passenger between distant T1 and T3 will be borne by IndiGo when T2 closes. Either shift us 100% to T1 by having an international wing there, or let us also have some domestic flights from T3, IndiGo has told DIAL and is awaiting a response from them,” people in the know say. Jaipuriar did not comment on this issue.
DIAL, meanwhile, is preparing for transfer of passengers between T1 and T3 — something that happens on buses running city side in the absence of an air train or automated people mover (APM). “We are working on airside transfers of baggage for passengers taking connecting flights on the same airline group. For instance, passengers travelling Patna-Istanbul (on IndiGo both flights) via Delhi, will not be required to take their bags on arrival at T1 on the domestic to international part of the journey. For return (when customs needs to be cleared), we are working with Govt agencies to see how this can work,” said Jaipuriar.
To handle transfer traffic, DIAL is building a hotel outside T3. It is seeing if the same can happen at the car park outside T1.

Air train

: DIAL will soon go for an international bidding of the proposed air train at IGIA — the long term solution for seamless intra-terminal connectivity. “The APM will be free for transfer passengers. We are looking at having allowing paid travellers on it who wish to travel city-side within the airport ecosystem. There may still be some viability gap and to fill that we might approach the Govt for a one-time tarriff support in the form of an airport development fees (ADF). We have made that representation,” said the CEO.
The air train will take about 3-4 years from when the work starts — just in time when T2 makes way for a brand new and bigger T4.

Future growth:

With four runways, IGIA currently has 1,500 daily slots. “We are working with international consultants to optimise our runway usage. In the next 2-3 years, first with dependant parallel usage of runways and then independent usage, we can add daily 500-700 slots. From current peak of 84 aircraft movement hour per hour, this can go to 110 aircraft,” Jaipuriar said.
Delhi Airport is using technology in a big way. Along with immigration, it has set to biometric machines on arrival for international passengers. “People coming in e-visas give their biometrics (finger scan). Doing so at immigration meant longer queues. That’s why we just started this,” Jaipuriar said.
Trends: DIAL says it is working with Delhi Metro to ensure more people come to the airport on metro and also use baggage drop at stations where the facility is available. More stations will get baggage drop facility for passengers. “We see more people are using a Metro,” he said.
Jaipuriar said 25-30% passengers going abroad are OCI (overseas citizenship of India) card holders. “They are looking for souvenirs and sweets to take from India with the airport last place where they can do so before flying out of here. They are also looking for food & beverage brands that are familiar with and also want to try newly-grown Indian brands,” he said.
Aerocity: The Delhi Airport’s Aerocity – which is being massively expanded by Bharti Reality — is becoming a destination in itself. “We now see people flying into Delhi staying at Aerocity hotel and having meetings there during the day before flying back home afterwards. Sometimes return the same day after completing their work here itself. Hotels here are seeing 90% occupancy. From 18 lakh square feet of retail, we are going up to 3 crore square feet of commercial hub,” Jaipuriar said.

Science & Environment

IndiGo Profit Doubles to Rs 1,895 Cr in Q4;…

23 May 2024
by admin

IndiGo’s domestic market share rose to 60.6 per cent in April, as per the latest official data.(Representative Photo)

InterGlobe Aviation, the parent of IndiGo, recorded a profit after tax of Rs 1,894.8 crore for the fourth quarter of 2023-24 compared to Rs 919.2 crore in the same period a year ago, a release said

The country’s largest airline IndiGo on Thursday reported more than doubling of its profit after tax to Rs 1,894.8 crore in the 2024 March quarter, fuelled by higher traffic, increased capacity and favourable external environment.

For the year ended March 2024, the airline posted a net profit of Rs 8,172.5 crore on record total income of Rs 18,505.1 crore.

In the first quarter of the current financial year, the airline has projected the capacity in terms of ASK to rise by 10-12 per cent compared to the year-ago period.

Available Seat Kilometre (ASK) is an indicator of capacity.

InterGlobe Aviation, the parent of IndiGo, recorded a profit after tax of Rs 1,894.8 crore for the fourth quarter of 2023-24 compared to Rs 919.2 crore in the same period a year ago, a release said.

Total income rose nearly 27 per cent to Rs 18,505.1 crore in the three months ended March 2024. It stood at Rs 14,600.1 crore in the year-ago period.

In the latest quarter under review, fuel cost increased 6.5 per cent while overall expenses climbed 22.3 per cent.

For the full year 2023-24, profit after tax touched Rs 8,172.5 crore as against a loss of Rs 305.8 crore in 2022-23.

“Yield increased by 7 per cent to Rs 5.19 and load factor improved by 2.1 points to 86.3 per cent,” it added.

According to the airline, it delivered another quarter of strong financial performance led by a range of initiatives and supported by favourable external environment.

“FY24 has been a year of many remarkable achievements and milestones. For the full financial year 2024, we reported our highest ever total income of around 712 billion rupees with a net profit of around 82 billion rupees and a net profit margin of 11.9 per cent. The 4th quarter financial results were positive, making it all four quarters in FY24 profitable,” IndiGo CEO Pieter Elbers said.

He also said the strong execution of the company’s strategy has yielded consistent results.

For the March quarter, IndiGo said its passenger ticket revenues rose 25.5 per cent to Rs 15,600.9 crore and ancillary revenues climbed 18.9 per cent to Rs 1,719.4 crore on an annual basis.

At the end of March, the airline had a fleet of 367 planes, including 13 on damp lease.

The airline, which started flying nearly 18 years ago, has about 1,000 planes on order and those are to be delivered through 2035.

IndiGo’s domestic market share rose to 60.6 per cent in April, as per the latest official data.

As of March this year, the total cash balance stood at Rs 34,737.5 crore, including Rs 20,823 crore of free cash.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)

Aditi Ray Chowdhury

Aditi Ray Chowdhury works at the breaking news desk with News18.com as a News Trainee. She completed her graduation in Mass Communication and Journali…Read More

Science & Environment

IndiGo to introduce business class in flights this year…

23 May 2024
by admin

NEW DELHI: The country’s largest airline IndiGo on Thursday said it will introduce business class in flights on the busiest routes this year. Details on product offering, launch date and routes will be unveiled around its 18th anniversary in August.
“In a groundbreaking move to redefine business travel in India, IndiGo, India’s most preferred airline, announces the plan to launch a tailor-made business product for India’s busiest and business routes,” the airline said in a release.
IndiGo CEO Pieter Elbers said it is constantly looking at innovating service offerings.
“We believe, as India gears up to become the third largest economy in the world, it’s our privilege to provide the New India even more options to choose from as they travel business. We are excited with this new phase and tailor-made product in IndiGo’s evolution and strategy and aim to further give wings to the nation, by connecting people and aspirations,” he said.

Science & Environment

Relief for lessors: DGCA de-registers a majority of GoAir’s…

1 May 2024
by admin

NEW DELHI: The Directorate General of Civil Aviation (DGCA) on Wednesday de-registered most of the 54 aircraft of GoAir. The regulatory comes following the Delhi high court last Friday issuing an order to do so within five working days while giving relief to the lessors on several other issues relating to these stuck planes.
The lessors are learnt to be wooed by both Tata’s Air India and cash-rich IndiGo to get the about 15 of the Airbus A320 family planes which could fairly quickly be made airworthy.Rest of the planes will have to wait to get replacement for their snag-ridden engines/spares from Pratt & Whitney which has been unable to supply the same to IndiGo also for several months due to which the latter’s over 75 planes are grounded. GoAir had stopped flying on May 2, 2023.
Delhi HC’s Justice Tara Vitasta Ganju last Friday allowed lessors to undertake maintenance on the long-grounded planes until the same are de-registered and exported in accordance with the Indian law.“The respondent DGCA and respondent Airport Authority of India (AAI) shall and assist the petitioner lessors and grant them access to the airports…” the court said. The resolution professional (RP) of GoAir and the airline have been restrained from accessing, entering or operating any of the aircrafts; and also from removing, replacing accessories, spare parts, documents and records from the aircraft.

Tag: <span>IndiGo</span>

Stocks To Watch: Zomato, Paytm, Adani Ent, Wipro, Vi,…

As T2 shutdown looms, DIAL open to having dedicated…

IndiGo Profit Doubles to Rs 1,895 Cr in Q4;…

InterGlobe Aviation, the parent of IndiGo, recorded a profit after tax of Rs 1,894.8 crore for the fourth quarter of 2023-24 compared to Rs 919.2 crore in the same period a year ago, a release said

IndiGo to introduce business class in flights this year…

Relief for lessors: DGCA de-registers a majority of GoAir’s…