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    INDIGO   INE646L01027

INTERGLOBE AVIATION LIMITED

(INDIGO)
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Indian shares close at record highs as Tata Motors soars on EV plans

10/13/2021 | 06:19am EDT
A woman walks past the Bombay Stock Exchange building in Mumbai

BENGALURU, Oct 13 (Reuters) - Indian shares settled at all-time highs on Wednesday, as Tata Motors soared on plans to boost electric-vehicle investments, with easing domestic inflation and the recommendation of an emergency nod for a COVID-19 vaccine for kids aiding sentiment.

The NSE Nifty 50 index ended up 0.94% at 18,161.75, and the benchmark S&P BSE Sensex closed up 0.75% at 60,737.05. Both the indexes have risen for five straight sessions.

Tata Motors surged nearly 25% to its highest since February 2017 and was the top boost to the Nifty 50. The Jaguar Land Rover parent raised funds from private equity firm TPG and said it would invest over $2 billion in its electric vehicle (EV) business over the next five years.

"Overall, the EV market is very vibrant in India. With Tata's move, the commercial space could get interesting, and we could see other auto firms following suit," said Narendra Solanki, head of equity research (fundamental) at Anand Rathi Investment Services.

Nifty's auto index rose for a fifth session to settle 3.4% higher.

"The economy seems to be responding well, and news around the vaccine for kids is also supporting momentum," Solanki said, referring to India's drug regulator recommending emergency use of Bharat Biotech's Covaxin for the two to 18 age group.

The country's retail inflation eased to a five-month low in September, data on Tuesday showed, amid rising concerns around soaring global energy prices.

All major sub-indexes except Nifty's realty index eked out gains on Wednesday.

The Nifty's IT index snapped two sessions of losses to close up 1.2%. Shares of Infosys Ltd and Wipro Ltd closed up 1.4% and 2.1%, respectively, ahead of reporting their September-quarter results.

Investment banking firm Centrum Capital closed up nearly 13% after the central bank issued a small finance bank license for its unit. (Reporting by Chandini Monnappa in Bengaluru; editing by Uttaresh.V)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CENTRUM CAPITAL LIMITED -2.68% 41.75 End-of-day quote.147.77%
INFOSYS LIMITED -2.49% 1757.55 Delayed Quote.43.52%
INTERGLOBE AVIATION LIMITED 1.27% 2038.75 Delayed Quote.16.75%
SPICEJET LIMITED -1.14% 73.6 End-of-day quote.-22.49%
TATA MOTORS LIMITED 1.03% 487.05 End-of-day quote.165.13%
WIPRO LIMITED -1.37% 701.9 End-of-day quote.81.72%
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Analyst Recommendations on INTERGLOBE AVIATION LIMITED
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Financials
Sales 2022 230 B 3 076 M 3 076 M
Net income 2022 -61 136 M -817 M -817 M
Net Debt 2022 272 B 3 639 M 3 639 M
P/E ratio 2022 -12,5x
Yield 2022 -
Capitalization 775 B 10 353 M 10 360 M
EV / Sales 2022 4,55x
EV / Sales 2023 2,60x
Nbr of Employees 23 204
Free-Float 21,4%
Chart INTERGLOBE AVIATION LIMITED
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Technical analysis trends INTERGLOBE AVIATION LIMITED
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Mean consensus HOLD
Number of Analysts 23
Last Close Price 2 011,95 INR
Average target price 1 914,96 INR
Spread / Average Target -4,82%
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Managers and Directors
Rono Joy Dutta Chief Executive Officer & Executive Director
Wolfgang Prock Schauer President & Chief Operating Officer
Jiten Chopra Chief Financial Officer
Meleveetil Damodaran Chairman
Sanjay Gupta Secretary & Chief Compliance Officer
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