IndiGo takes off on D-Street with 10% jump: What's behind the rally?
Shares of InterGlobe Aviation Ltd, the parent company of IndiGo, jumped sharply on Monday, rising nearly 10% during the day. The rise came after an important development, which is, Indian airspace has been reopened for commercial flights following a ceasefire announcement between India and Pakistan. This means 32 airports that were earlier closed are now back in operation.According to Notices to Airmen (NOTAM), which are used to inform pilots and airlines about changes in air traffic, the earlier restrictions on Indian airspace have now been removed. This move is expected to reduce air traffic congestion and allow smoother operations for both domestic and international flights. This is likely to benefit all airlines, including IndiGo, which is one of India's largest carriers.On Monday, IndiGo's share price jumped as much as 9.78% to touch a high of Rs 5,599. By the afternoon, the stock was trading 7.45% higher at Rs 5,479.85. With this rise, IndiGo's share price has gone up 19.35% so far in 2025.Experts say that the Rs 5,300–5,350 range will act as a strong support zone for the stock. If the share price moves clearly above the Rs 5,600–5,650 range, further gains could follow.Kunal Kamble, a Senior Technical Research Analyst at Bonanza, said that as long as the stock stays above Rs 5,350, it could move up towards Rs 5,926 in the short to medium term. If that level is crossed, it may even reach Rs 6,210.Jigar S Patel, Senior Manager for Technical Research at Anand Rathi, pointed out that the stock is currently supported at Rs 5,300 and is facing resistance at Rs 5,600. A clear break above Rs 5,600 could lead the share to rise to Rs 5,800. He added that the expected trading range for the short term is likely to be between Rs 5,200 and Rs 5,800.Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, also said that Rs 5,650 is a key resistance level for IndiGo, while support can be seen at Rs 5,500.IndiGo's share price is currently trading higher than all key simple moving averages (SMAs), including the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day averages. This is seen as a positive sign by many traders.The 14-day Relative Strength Index (RSI) of the stock stands at 58.91. In general, an RSI value below 30 is considered oversold, while a value above 70 is considered overbought. A value around 59 indicates the stock is in a stable zone without being overbought.As per data from BSE, IndiGo has a price-to-equity (P/E) ratio of 34.86 and a price-to-book (P/B) value of 56.65. Its earnings per share (EPS) is Rs 157.18, and the return on equity (RoE) is 162.65.According to data from Trendlyne, IndiGo has a one-year beta of 0.9. This suggests that the stock is less volatile compared to the broader market.
advertisement
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
16 minutes ago
- Business Standard
Fertiliser stocks rally up to 18%; Deepak, Paradeep hit new highs
Shares of fertiliser companies were in demand and rallied up to 18 per cent on the BSE in Tuesday's intra-day trade amid heavy volumes, in an otherwise weak market. Fertilizers and Chemicals Travancore soared 18 per cent to ₹1,048 apiece, National Fertilizers rallied 9 per cent to ₹109.94, followed by Rashtriya Chemicals and Fertilizers (RCF) (up 8 per cent at ₹164.20), Deepak Fertilisers & Petrochemicals Corporation (8 per cent at ₹1,594.10), Madras Fertilizers (6 per cent at ₹97.45) and Paradeep Phosphates (4 per cent at ₹183.50). Of these, Deepak Fertilisers & Petrochemicals Corporation and Paradeep Phosphates have hit their respective all-time highs today. In comparison, the BSE Sensex was down 0.7 per cent or 552 points at 80,822 at 02:24 PM. The performance of the fertiliser sector remains vulnerable to the vagaries of the monsoon as a sizeable portion of the arable land depends on the monsoons for irrigation. The performance of the fertiliser sector also remains vulnerable to the timely release of subsidies by the Government of India (GoI), as significant delays would increase the working capital borrowings and the associated interest costs. Early monsoon onset The Indian Meteorological Department (IMD) has predicted an early onset of the monsoon along with above-normal rainfall for the 2025 season. The southwest monsoon seasonal rainfall over the country as a whole is likely to be 106 per cent of the Long Period Average (LPA) with a model error of 4 per cent, indicating that above normal rainfall is most likely over the country as a whole during the monsoon season (June to September), 2025, IMD stated. Global triggers Meanwhile, the European Parliament approved a bill to raise tariffs on fertilisers and agricultural imports from Russia and Belarus. According to a CNBC TV18 report, the new policy will gradually increase tariffs on certain fertilisers from the current 6.5 per cent to nearly 100 per cent by 2028, effectively curbing imports from these two major suppliers. Additionally, a 50 per cent duty will be imposed on select agricultural products from the same region. The bill is expected to be enacted in July 2025, with phased implementation over the next three years. This move may potentially redirect global demand towards Indian manufacturers, the report stated. Urea demand remains intact Meanwhile, there is a favourable demand-supply scenario of urea in India. The import dependence for urea remains in the range of 20-25 per cent, given the inadequate domestic capacity. The demand for urea remains intact because of a significant price differential between urea and non-urea fertilisers. The demand is expected to grow at a stable rate of 1-3 per cent in the near to medium term, backed by a healthy monsoon and strong farmer demand, according to rating agency ICRA. According to Elara Capital, Rock phosphate, a key raw material used in the manufacturing of phosphoric acid, has seen a price increase in the range of 10-20 per cent in the past month. This price rise has been across geographies, including Jordan, Morocco, Togo, and Egypt. The increase in rock phosphate price was driven by the rise in the price of phosphoric acid, which was up ~10 per cent to USD 1153/tonne in April vs the last revision of USD 1060 in January. The brokerage firm expects the spread on phosphoric acid production to reduce by 25-30 per cent for manufacturers in India in H1FY26E. Lower backwards integration spread is likely to put pressure on Ebitda of fertiliser companies in H1FY26. A 45 per cent increase in subsidy for phosphate in Nutrient Nutrient-based subsidy (NBS) policy released on 28 March 2025 has led to a 13-17 per cent rise in Di-ammonium Phosphate (DAP) prices for imports into India. An increase in DAP prices led to a 10 per cent surge in the price of phosphoric acid, which has further led to a rise in the price of rock phosphate. Fertiliser inventory in India at the end of FY25 for both phosphatic & potassic fertiliser (P&K) and urea is at its second lowest level in the past six years (Source: Department of Fertiliser). P&K closing inventory stood at 4.3mn tonnes in FY25, which is the second-lowest during FY20- 25. Within this, DAP inventory stood at 0.9mn tonnes, the second-lowest level in the past six years. Urea inventory, yet again, was at the second-lowest level in the past six years, at a comfortable 5.6mn tonnes, the brokerage firm said in a sector report.
Indian Express
23 minutes ago
- Indian Express
Prabhas' The Raja Saab release date postponed to December 5; teaser to drop on June 16
Prabhas's The Raja Saab Movie Release Date: As fans await Prabhas to show his magic on the big screen after the massive success of his last release — Kalki 2898 AD — the makers of his upcoming film The Raja Saab confirmed the film's release date on Tuesday. The actor took to Instagram to share the release date of the horror comedy — December 5. In his Instagram post, Prabhas shared a new poster of the film to reveal the release date. He also announced that fans will get the first look of The Raja Saab through the film's teaser, which will be unveiled on June 16. The poster shows Prabhas removing a red cloth that has caught fire, and it also shows Indian currency flying around, giving the impression that the actor has just performed a risky magic trick. He wrote, '#TheRajaSaab Teaser on June 16th. See you in theatres on Dec 5th. @director_maruthi @ @peoplemediafactory.' A post shared by Prabhas (@actorprabhas) Earlier, the film was supposed to release in April 2025, but the release has now been postponed to December 5. The Raja Saab is directed by Maruthi, who is well-known for projects like Bhale Bhale Magadivoy, Mahanubhavudu, and Manchi Rojulochaie. He shared the film's new release date and wrote, 'A day that promises a festival on the big screens just like we all dreamt of seeing our dearest darling #Prabhas ❤️❤️❤️ A lot more exciting days ahead…#TheRajaSaab.' Earlier, Maruthi shared details about the film and said, 'The Raja Saab stands as one of my most ambitious projects to date. Collaborating with Prabhas and People Media Factory is both an honour and exciting for me as a filmmaker. We are geared up to offer our audiences a grand horror experience. Having Prabhas on board is particularly special as his electrifying screen presence infused with our horror narrative is surely to leave audiences amazed.' The film is produced by People Media Factory, with a reported budget of Rs 400 crore. Karthik Palani handles the cinematography, and Thaman S delivers a thunderous, high-impact score for the film. It also features Malavika Mohanan, Nidhhi Agerwal, and Ridhi Kumar in pivotal roles, along with Bollywood actor Sanjay Dutt playing a key role. The film will release in various languages, including Hindi, Telugu, Tamil, Kannada, and Malayalam.
Mint
23 minutes ago
- Mint
India's cotton crisis: A new mission takes shape to revitalise the common man's fabric
New Delhi: India's cotton industry, the world's second-largest producer of the fabric, has been grappling with progressively shrinking yields unable to keep up with advanced farming practices and technology, prompting a series of emergency measures by the government. The Centre has begun the groundwork for launching a National Cotton Productivity Mission, with discussions underway to chart out a strategy focused on crop diversification, yield improvement, introduction of new seed varieties, and promoting mechanised farming, two officials said. These measures are aimed at revitalising India's cotton economy amid inconsistent yields. India's cotton output dropped from about 33.7 million bales in 2022-23 to 32.5 million bales in FY24 and an estimated 30.7 million bales in FY25, according to the agriculture ministry data. (One bale is 170 kg of cotton; a full cotton year runs from October through September.) Also, India's cotton yield, at around 465 kg per hectare in FY25, remains far below China's average of over 2,170 kg/ha. According to the US department of agriculture, China is the world's largest producer of cotton, with its 32 million bales in 2024/2025 accounting for 26% of global production. India stood second with its 25 million bales accounting for 21% of global cotton production. As part of the five-year mission to improve India's cotton productivity, the textiles ministry, in coordination with the agriculture and farmers' welfare ministry, has started consultations with agricultural experts, farmer groups, and state governments to devise a comprehensive strategy. 'To stop the decline (in India's cotton production), discussions are being held to finalise a plan that includes crop diversification, better yields, new seed varieties, and more use of machines in farming. This is the first formal step toward starting the long-awaited mission to revive India's cotton economy, which has been under pressure due to falling production," said the first of the two officials mentioned above. 'We are aiming to double the yield from 465 kg/ha to 1,000 kg/ha across 11 states under the upcoming National Cotton Productivity Mission," said the second official. 'The mission will address core structural issues across the cotton value chain, especially at the farm level," this official said, adding that improved access to modern machinery and high-quality seeds will be central to the plan. Lower yields have naturally spiked cotton prices, which have increased from ₹7,100-7,500 per quintal (or 100kg) in 2024 to ₹7,600-7,900. 'At this price, it's not viable to continue operations as it makes the business unviable. Ultimately, it will lead to closure of spinning mills," said Sukhdev Singh, a spinner based in Punjab. Also read | India likely to seek removal of US steel tariffs in trade talks rather than immediate retaliation Making Indian cotton viable again The National Cotton Productivity Mission is still in its early planning stage, and further rounds of consultations with major cotton-growing states are expected in the coming weeks. A detailed implementation roadmap, including timelines and funding mechanisms, is likely to be developed after these consultations conclude. India's major cotton-growing states are Maharashtra, Gujarat, Telangana, and Andhra Pradesh. The government's move to improve the country's cotton productivity is timely and critical for export-led growth, said Prabhu Dhamodharan, convenor, Indian Texpreneurs Federation. 'Nearly 60-65% of our apparel exports are cotton-based, and India has a clear opportunity to scale up in global markets. However, with the minimum support price (MSP) being raised year after year to support farmers facing poor yields, Indian cotton has become more expensive than that of competing countries," Dhamodharan said. 'The only sustainable way forward is to improve yield. We hope the Union government's cotton mission will address this gap and make Indian cotton viable both for farmers and exporters," Dhamodharan added. Also read | India to push 'Buddha rice' exports to Buddhist countries As per commerce ministry data, India's export of cotton yarn increased from $10.94 billion in FY23 to $11.68 billion in FY24 and $12.04 billion in FY25. Major export destinations for Indian cotton are the US, Bangladesh, Sri Lanka, the UK, the UAE, Germany, China, and Egypt. But cotton imports too have been rising sharply—from about 1.46 million bales in FY23 to 1.52 million in FY24 and 2.15 million during October-March FY25, as per textiles ministry data. Farmers have been demanding better technology to improve yields. 'We are still sowing the BG2 variety of cotton while other countries have moved ahead and adopted BG3 and BG4 varieties with higher yield potential," said Ganesh Nanote, a cotton farmer in Maharashtra's Vidarbha region. 'Unless farmers get access to better seeds and improved farming practices, yields are not going to improve." The sharp drop in India's cotton production is also affecting the ginning industry, which separates cotton fibers or lint from their seeds and other impurities. 'The lower productivity has cast a shadow over the future of ginning and spinning mills," said Bhagwan Das Bansal, former president of the Punjab Cotton Factory and Ginners Association. 'Our ginning season starts from 1 October to 31 May. But due to inadequate supply of cotton, a majority of the mills stopped ginning operations in February only." Also read | These cotton textile labels provide a glimpse of business history
