Anil Ambani-owned Reliance Infrastructure share price rebounds on THIS update by defence arm
Anil Ambani group stock Reliance Infrastructure share price rebounded during intraday trades, despite sell-offs in the Indian stock markets. The company announced on the exchanges that the Reliance Infrastructure-promoted Reliance Defence has formed a strategic partnership with Coastal Mechanics, USA, The partnership between Reliance Defence and Coastal Mechanics, USA is to address the RS 20,000 crore Defence MRO and Upgrade opportunity.
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Mint
25 minutes ago
- Mint
Independence Day weekend to see extra flights, with IndiGo set to benefit most
Starting in July, there has been a lull in Indian skies, with passenger numbers dropping below the 4 lakh mark on a few occasions and airlines deploying fewer than 3,000 flights a day on domestic routes. However, that is set to change over the Independence Day long weekend, when airlines, led by market leader IndiGo, will operate additional flights to cater to the demand. Data obtained from Cirium, an aviation analytics company, exclusively for this article shows a sudden surge in seat capacity around 15 August. There are over 12,000 more seats in the market on Friday, 15 August, compared to Friday, 8 August. The data shows that the average seat availability between 1 August and 13 August was 5.05 lakh, rising to 5.14 lakh on 14 August, 5.15 lakh on 15 August, and then peaking again at 5.19 lakh on 18 August, the end of the long weekend, across all airlines. Market leader IndiGo is adding nearly 9,000 of the total 12,000 seats, with the rest contributed by Air India Express (1,000 seats), Akasa Air (300 seats), and SpiceJet (1,000 seats). The top carriers are adding around 66 additional flights on 15 August to cater to the high demand, 38 by IndiGo, 10 by Air India Express, eight by SpiceJet, and two by Akasa Air. A similar pattern is expected on Monday, when IndiGo will operate 26 more flights compared to the corresponding Monday of the previous week, while Air India Express will add 10 more, some of which are reinstated services or new routes. Even as debates continue over whether Goa is falling off the tourist map, with complaints from locals about tourists, taxi issues, and rising costs, the state remains a hot favourite for long-weekend travellers. On 15 August, IndiGo is adding two extra flights to Goa from Ahmedabad, three from Bengaluru, two from Mumbai, and one from Delhi. The airline is also adding a similar number of flights to Goa on 14 August, the eve of Independence Day. Air India Express, meanwhile, is augmenting flights to Bagdogra starting 15 August, not as a holiday-driven move, but as part of a broader capacity expansion that includes additional flights to Guwahati and Bagdogra from Kolkata. The additional flights are helping keep airfares in check on routes where these 'holiday special' services are operating. For example, the fare between Pune and Goa is upwards of ₹ 13,000 for the one-hour flight on 15 August. Prices are in a similar range for Nagpur–Goa and Indore–Goa flights on the same day. By contrast, fares between Delhi and Goa remain below ₹ 10,000, owing to the availability of additional flights and a better demand–supply balance compared to the Pune–Goa sector. However, fares to other tourist destinations, such as Kochi, Sri Vijaya Puram (Port Blair), and Dharamshala from Delhi, have risen significantly. Many short international routes are seeing a spike in fares, including those to Dubai, Bangkok, and Phuket, destinations that either offer visa on arrival or have easier visa norms for Indians. Bengaluru, which has seen increased connectivity to leisure destinations over the past year, is no exception, with fares rising to Phuket, Langkawi, and Colombo. By the following Friday, however, fares to destinations such as Langkawi and Colombo from Bengaluru drop to half or even less than half of the Independence Day weekend rates. There has been a drop in both flights and passengers since July as airlines pulled capacity from the market. IndiGo described the move as planned, aimed at better balancing demand and supply, while Air India reduced capacity as part of its rationalisation following the AI171 crash in Ahmedabad in June. Daily domestic departures fell below the 3,000 mark, with passenger numbers dipping below 4 lakh on some days. The long weekend around 15 August, followed by festive travel across the country, is expected to bring in more passengers and offer airlines some much-needed respite in what has been a lacklustre quarter. The obvious question is how airlines are managing a sudden influx of capacity. IndiGo had deliberately pulled out capacity to match demand, focusing instead on maintenance tasks and engineering checks. The airline has now managed to bring back some aircraft temporarily to operate the additional flights, a flexibility that not many carriers have the luxury of enjoying.
Economic Times
27 minutes ago
- Economic Times
Nykaa shares rally 5% as brokerages turn more bullish post Q1 results. Should you buy, sell or hold?
Nykaa shares rose 5.4% to Rs 215.95 after brokerages reaffirmed bullish views post-Q1 results. Net profit jumped 79% YoY to Rs 24 crore, revenue grew 23% to Rs 2,155 crore, and GMV climbed 26% to Rs 4,182 crore. Nuvama and JM Financial maintained Buy ratings, citing strong beauty growth, improving fashion performance, and margin expansion potential. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Q1 performance supports outlook Shares of FSN E-Commerce, which operates the Nykaa brand, climbed as much as 5.4% on Wednesday to Rs 215.95 on the BSE after brokerages reaffirmed bullish views and raised price targets following the company's first-quarter maintained its Buy rating on Nykaa with a target price of Rs 235, implying a 15% upside from the stock's last traded price. The brokerage said market share gains remain a strategic priority, with strong momentum in the Beauty & Personal Care segment and improving growth in expects around 20% GMV growth and margin expansion, supported by narrowing losses in the Fashion and eB2B businesses. However, Nuvama trimmed earnings estimates for FY26 and FY27 by 10% and 12%, respectively, due to higher tax assumptions. JM Financial reiterated its Buy call and raised its target price to Rs 260 from Rs 250, implying a potential upside of 27.5% from the last traded brokerage noted that Nykaa delivered robust growth despite a tepid demand environment, with the Beauty & Personal Care vertical posting 26% GMV growth and offline retail rising 33% Financial expects an accelerated improvement in consolidated EBITDA margins, driven by higher profitability in core beauty operations and declining losses in Fashion and reported a 79% year-on-year jump in consolidated net profit to Rs 24 crore for the quarter ended June 30, 2025, on a 23% increase in revenue from operations to Rs 2,155 grew 26% to Rs 4,182 crore, with the Beauty vertical contributing Rs 3,208 crore. EBITDA rose 46% from a year earlier, with margins expanding to 6.5% from 5.5%.The House of Nykaa Beauty business now accounts for 18% of the company's overall beauty GMV, said Falguni Nayar, founder and CEO of Nykaa.'Since our IPO, we have consistently delivered mid-20s growth at a consolidated level. Our cumulative customer base now stands at 45 million, reflecting the growing trust and adoption of our platform,' Nayar added.
Scroll.in
27 minutes ago
- Scroll.in
RPSC ASO application window closes today for 43 posts; here's how to register
The Rajasthan Public Service Commission (RPSC) will close the online application window for the recruitment of Assistant Statistical Officer (Eco. and Stat. Dept.) 2024 posts under Advt. No. 09/2024-25. Eligible candidates can apply for the posts on the official website or The recruitment drive aims to fill up a total of 43 ASO posts. Applicants can check the eligibility criteria, age limit, pay scale, and other details available in the notification below: Here's the official notification. Candidates have to pay a fee of Rs 750 for One Time Registration (OTR). More details in the notification. Steps to register for ASO posts 2024
