Latest news with #InterGlobe
Time of India
22-05-2025
- Business
- Time of India
PSU banks, select private lenders remain attractive despite global market jitters: Chakri Lokapriya
"All this will take away the focus of the company from its core lending and borrowing business and instead focus on fixing the house. So, growth and operations is a casualty," says Chakri Lokapriya , CIO-Equities, LGT Wealth. What do you make of the market set up right now? Chakri Lokapriya: Clearly, with the US fiscal deficits turning out to be higher, it is now almost like there will be some form of tariff impact on all the other countries, India included. Against this backdrop where we have an RBI surplus which is going to be released sometime in the next few weeks, that can help India to do defence spending, capex spending, so that will support earnings, India corporate earnings, so that is the next support to watch for and, of course, the RBI rate cut. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now So, how important is the spike in bond yields and what kind of impact do you think that could have? Chakri Lokapriya: The impact of that is clearly a bit unnerving at one point. So, the only thing that will help in as far as India is concerned is we should see evidence of an earnings acceleration, because so far we have seen only earnings downgrade, only then it will justify the valuations going forward. Let us analyse some numbers and InterGlobe Aviation , it is, of course, a strong forecast for FY26, the management believes that all those geopolitical turbulences could very well be behind them. What is it that you anticipate in terms of where the stock could actually move from here and do you sense further upside? Chakri Lokapriya: InterGlobe clearly in the short to medium term is well positioned. It has a few things going in its favour which is oil is down and that is the biggest component of its raw material costs, fuel cost, and outside of that traffic growth continues to remain strong. Live Events And now in the traffic, in the peak season that we are going into which they do not have presence, that is the international segment, they are launching a new segment that may add some incremental bit, but not really, but just the domestic factor setup in itself the outlook for InterGlobe is good. In any case, I am sure everyone must have already exited IndusInd Bank , but what is it that you are making of the commentary because it is not just about core profitability or that one-time adjustment of forex, but there are many one-offs which I guess have led to this massive loss that they have incurred. Chakri Lokapriya: You are absolutely right. In this environment when a new CEO is going to come, it is going to impact a lot of changes, operational changes, operational uncertainty within the bank on top of their existing problems of asset quality, provisioning, accounting issues. So, it is best avoided and not touch for quite some time until things settle down. What is your view on IndusInd Bank, I mean, it just everybody knows the bad news. We know that there is a derivative laws. We know that there is a problem in MFI. And we know that there is no CEO. I mean, are markets pricing all the bad news? Chakri Lokapriya: I do not think so, simply because while the market might be pricing in news, what is still uncertain is about how will whoever is the new CEO, interim, how the operations are going to be run? How is it going to be cleaned up? All this will take away the focus of the company from its core lending and borrowing business and instead focus on fixing the house. So, growth and operations is a casualty. I was just looking at the charts of BEL and the stock is pretty much around its 52-week highs. We have seen a renewed vigour within the entire defence pack as soon as the geopolitical tensions with the neighbour actually sprung up. Wanted you to tell me that other than BEL, where is it that there is valuation comfort within purely the defence pack. Chakri Lokapriya: Within the defence pack, well Bharat Electronics clearly is well positioned as you say. Hindustan Aeronautics, Mazagon Dock are also looking good. These are all one-off companies in terms of not too many people can make submarines, not too many people can make aircrafts. And outside of that somehow related thing would be railways, but the simple fact that now with the increased scrutiny and border controls, it is likely to see more railway penetration across all the more sensitive areas and therefore, companies like Titagarh Wagons , Jupiter Wagons all these companies are also likely to see, given that they have corrected quite significantly. Just wanted to understand given the market construct right now and all the dynamics at play, is there anything that you are overweight on currently or recommend buying in this market or would you say just sit back because you do not know how the global markets are really going to pan out from here while we have done okay from those March end lows, but guess this is not it. Chakri Lokapriya: You are right, in terms of, we have rebounded quite sharply over the last month and a half, against the backdrop of earnings not actually being cut in this current quarter but we would still be overweight financials and industrials because that is where there will be tailwinds with an RBI rate cut and eventual uptick in corporate earnings and therefore spent. So, I think those are the two areas, within that PSU banks and some of the obvious names in private banks and within industrials the EPC companies. Also, give us some sense that what are you really pencilling in when it comes to the pharma space because just yesterday, we have seen the pharma index was actually in the pink of health and of late, it did not participate much in the kind of selloff or rather volatility that we have seen. Do you believe this still offers value and one should look at for a long-term opportunity, well of course, with earnings CDMO as a segment has done very well. Chakri Lokapriya: The pharma sector is clearly still wait and watch of the US tariffs. The US tariffs actually in the case of pharmaceuticals there is one rate for the branded drugs and one rate for the non-branded, generics, and the non-branded is where largely India belongs. So, there the tariffs are likely to be much lower, but even assuming that there are a 10% tariff that we have in any case, that is largely baked into the numbers and so if that is the number that it turns out with the trade talks, pharma as a sector, companies like Sun they will show that 10% types of growth, they are positioned and the valuations are not heated, so whether it is Sun or Cipla, or Lupin all these companies are positioned for about like a 15-20% upside.
News18
22-05-2025
- Business
- News18
IndiGo Shares Fall Nearly 2% Despite 62% YoY Surge In Q4 PAT; Key Points For Investors
IndiGo Share Price: Shares of InterGlobe Aviation-owned IndiGo slipped 1.6% to a day's low of Rs 5,375.75 on the BSE on Thursday, despite reporting a 62% year-on-year surge in net profit to Rs 3,067 crore for the March quarter. The profit boost was largely driven by robust travel demand during the Maha Kumbh Mela and wedding season, marking the airline's second-highest quarterly profit ever. Revenue from operations stood at Rs 22,152 crore, up 24% from Rs 17,825 crore in the same period last year. However, IndiGo's full-year net profit for FY25 fell 11% year-on-year to Rs 7,258 crore. The board has announced a dividend of Rs 10 per share.
Time of India
20-05-2025
- Business
- Time of India
Accor and InterGlobe appoint Gaurav Bhushan as Chairman of their joint hospitality entity in India
Accor , a global hospitality group, and InterGlobe , India's foremost travel conglomerate said Tuesday they have appointed Gaurav Bhushan as chairman of their newly formed hospitality enterprise in India. The companies said as co-CEO of Ennismore , CEO of lifestyle and leisure brands and a member of the executive committee at Accor, Gaurav Bhushan brings more than 30 years of strategic leadership and global experience in the hospitality industry. An Accor veteran, he previously served as global chief development officer at Accor, overseeing the expansion of the Group's portfolio from 12 to over 45 brands, and spearheading more than 500 hotel signings annually. "India's hospitality sector is entering a transformative phase, and this new platform is perfectly positioned to capture its full potential," said Bhushan. "I'm honoured to chair this ambitious venture and work alongside exceptional partners and teams at both Accor and InterGlobe to deliver meaningful growth and innovation for the Indian traveler," he added. The companies said the new entity brings together the development, operations, and management platforms of Accor and InterGlobe in India, and will serve as the 'exclusive growth engine' for Accor's brands across the country. Economic Times WhatsApp channel )
Irish Independent
06-05-2025
- Business
- Irish Independent
Legal bill at Airborne Capital hits €4.2m after it is sued in UK
The scale of the firm's mounting legal bill is revealed in the latest set of publicly-available accounts for Airborne Capital, which is a specialised aircraft leasing and asset management firm. The fees compared to just $443,000 incurred by the company in 2023. They were $2.3m in 2022. Airborne Capital is embroiled in a legal battle with former shareholder, UK-based InterGlobe Aircraft Management Services (IGAM), a unit of InterGlobe Enterprises that owns India's largest airline, IndiGo. IGAM has sued Airborne CEO and co-founder Ramki Sundaram and the Irish firm's chief financial officer, Anand Ramachandran. InterGlobe has also sued a UK-based entity called Airwayy Partnership, which controls 90pc of Airborne Capital's ordinary shares. All the defendants are being represented by London-based global law firm Slaughter & May. IGAM has claimed they and Airborne conspired to deliberately mislead it and induce it to sell an interest in the business 'at a far lower price than it otherwise would have done'. Airborne Capital has insisted IGAM has no basis for the $28m (€25m) claim. The firm has said the claims made against it and its directors 'have no basis in fact or law'. InterGlobe first invested in Airborne Capital in early 2019, acquiring a 42.5pc stake from Kerry-based financial services firm Fexco and taking a total 65pc shareholding in Airborne. That involved InterGlobe investing $73m in Airborne. Fexco retains a working relationship with Airborne Capital. In 2022, InterGlobe exited Airborne via an agreement whereby it received an upfront cash consideration of $43.2m and profit participating notes valued at $30.3m. But InterGlobe claims the defendants misrepresented revenues by more than $15m in order to adversely impact Airborne Capital's valuation, resulting in InterGlobe selling its interest in the leasing firm 'at a discount to the full value'. The case remains open, according to official court records. The latest set of accounts for Airborne Capital show that it made a $4.3m pre-tax loss last year, compared to a $1.5m profit in 2023. Revenue last year rose to $19m from $15.1m the year before. Had the firm's legal bill not jumped, it would have been closer to a break-even position. In 2024, the trend of increased travel continued with airlines returning to profitability, the directors note in the newly-filed accounts. 'Capital markets and investor demand for new aviation issuances/exposures is rebounding, offering aircraft trading and other opportunities,' they added. Earlier this year, Airborne Capital and Daiwa Securities confirmed a joint venture to create Daiwa Airborne. Airborne Capital said it continues to pursue emerging opportunities, supported by its business alliance with Daiwa Securities, that will offer 'comprehensive support' to high-net-worth individuals and corporations through Japanese Operating Lease products and the management of leasing services. Last year, activist investment giant Elliott increased its stake in Airborne Capital by way of about $3m in payment-in-kind equity notes.
