GAGA Share Market News

[hfe_template id='11223'] [ad_1] The Bhatia family, promoters of India's largest airline IndiGo, is likely to to sell a 2% stake in the company on Tuesday for approximately ₹3,292.3 crore ($394 million) through a block deal, as per a term sheet reviewed by ET. This is the first time the Bhatia Family is selling their stake in InterGlobe Aviation post the IPO. The term sheet indicates that the seller is InterGlobe Enterprises Private Ltd, through which Rahul Bhatia, one of the company's promoters, held a 37.91% stake in the company as of March 2024, according to BSE filings. Together, the Bhatia and Gangwal Families hold a 57.29% stake in InterGlobe Aviation. Following the block deal, there will be a lock-up period of 365 days for the seller, according to the term sheet. The sellers are offering 7.71 million shares for sale, at a price ranging from ₹4,266 to ₹4,562.55 per share, the closing price on Monday. Citigroup is the banker for the deal. Interglobe Enterpr...

[hfe_template id='11223'] [ad_1] Shares of InterGlobe Aviation, which operates IndiGo Airlines, rose nearly 3% in Friday's trade on BSE to its new 52-week high of Rs 4,520 after the company’s PAT more than doubled to Rs 1,895 crore in Q4. Revenue from operations increased 26% year-on-year (YoY) to Rs 17,825 crore in the reporting quarter while the airline's passenger ticket revenues grew 25% YoY to Rs 15,601 crore. Here’s what analysts from various global and domestic brokerages say: Nuvama Nuvama stated that IndiGo’s growth is attributable to strong capacity addition, low ATF cost, and a rise in yields. RPKM rose as the demand stayed strong while the international segment surged 49% YoY. Nuvama further believes cost realization to continue and yields to remain healthy as a duopolistic structure bodes well for the company.Nuvama maintained a ‘buy’ view of the stock with a target price of Rs 5,192. Bank of America The global brokerage firm has lifted its estimates...

[hfe_template id='11223'] [ad_1] Indian headline indices today ended in the green, registering their fifth successive gains led by Axis Bank and other banking stocks. While the S&P BSE Sensex settled at 74,339.44, up by 486.50 points or 0.66%, the broader Nifty closed at 22,570.35, gaining 168 points or 0.75%. In today's trade, shares of Maruti Suzuki, Bajaj Finserv, HCL Technologies, Eveready Industries, SBI Cards and Payment Services, SBI Life Insurance Company, Vedanta and Bajaj Finance among others will be in focus due to various related developments or quarterly earnings. Maruti, Bajaj Finserv, HCL Tech, Eveready Industries, SBI Card, SBI Life, Mastek Shares of Bajaj Finance, Nestle, Tech Mahindra and IndusInd Bank will be in focus as the companies will announce their quarterly results later in the day. Read more: Here's the trade setup for today's session Vedanta Metal major Vedanta on Thursday reported a net profit of Rs 1,369 crore for the March-e...