The fresh bout of trouble has forced IndiGo to ground aircraft periodically since July, and on August 20, the number of grounded aircraft touched nine
The international operations of Air India seem to be the main attraction for IndiGo, which has also flagged concerns about some foreign overseas airlines being allowed "disproportionate access" to the Indian market.
Top no-frills carrier IndiGo on Tuesday approached capital markets regulator Sebi with Initial Public Offer.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
The number of Indian passengers has jumped more than 20 per cent in the past year
Index heavyweights continue to be top losers with ICICI bank.
Airline mum on offer plans, sources say it will be looking to raise around Rs 1,000-1,200 crore
Some of Modi's biggest reforms have met with fierce political opposition.
Vistara has a three-class configuration with business, premium economy and economy cabins.
IndiGo was set up in 2006 by businessman Rahul Bhatia and Rakesh Gangwal, a former CEO for US Airways Group.
With 262 planes, IndiGo operated over 1,500 daily flights prior to March 24 but is now operating around 350 scheduled flights a day, which is putting a pressure on its finances.
Move aimed at giving more headroom to foreign investors.
Government believes privatisation would increase the airline's efficiency and make it profitable, enriching the value of the remaining stake with it.
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
Focus will, however, shift back to corporate earnings, liquidity situation and global events - specially crude price.
As many as 104 listed companies have fewer independent directors than mandated by the regulations, according to the figures from Prime Database, reports Sachin P Mampatta.
The airline is gearing up to come out with an initial public offer.
Raamdeo Agrawal, joint managing director at Motilal Oswal Financial Services, tells Sheetal Agarwal key trends in this earnings season and investment themes in Indian markets.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
The market breadth, indicating the overall health of the market, was positive
IndiGo, Jet, SpiceJet and GoAir demand level playing field in aviation policy, say government can't favour only two new airlines.
The breadth, indicating the overall health of the market, turned negative from positive
'The recent price hike would only be beneficial if the airlines continue to operate at 80 per cent airline capacity. An increase towards 90 or 100 per cent airline capacity would again add pressure to the fares as demand remains muted. Also, we are in the fourth quarter of the fiscal year which is a seasonally weaker quarter,' says an analyst.
India's biggest airline IndiGo is set to file the prospectus next week for a domestic stock market listing.
Sensex,Nifty to remain under pressure through the week.
Maruti Suzuki, Asian Paints, L&T, ONGC and Infosys have gained between 1%-1.5%.
The top gainers on the Sensex are Gail(India), HDFC, Infosys.
Analysts have questioned the Aditya Ghosh-led company's negative net worth due to a huge dividend payout ahead of an IPO.
The NSE Nifty too ended 58.60 points, or 0.54 per cent, higher at 10,967.30 after shuttling between 10,985.15 and 10,928 during the session.
Long-haul low-cost carriers like Scoot and AirAsia X offer a similar configuration.
Sensex in green, midcaps, smallcaps fail to show up; bluechips rule.
FII stance, progress of monsoon, crude oil and rupee movement are likely to dictate the trend.
The lower quarterly profit was mainly due to rise in fuel costs, foreign exchange loss and lower yield
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
Markets ended weak tracking the expiry of April derivative contracts.
Reliance Industries was the top Sensex gainer up 5.6% after the company reported better-than-expected net profit growth at 12% in the second-quarter aided hby higher gross refining margins.
With oil prices in a free fall, the airline is looking at regaining some of its lost share.
IndiGo's co-founder and interim CEO Rahul Bhatia said profitability was significantly impacted by costs pressure from the increases in fuel price and the depreciation of rupee as well as competitive fare environment.
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