Infosys, Wipro and MindTree on investors' radar ahead of the September earnings. Airline stocks also likely to be in limelight as aviation ministry allows 100 per cent occupancy for domestic flights
Analysts say the move will remove key overhangs from SpiceJet's stock and suggest investors 'hold' it in their portfolios
Stock of IRCTC, the company that has been carrying passengers even during lockdown, advanced 6.9 per cent on the BSE to hit an intra-day high of Rs 1,404 on the BSE
Stock in Mumbai-listed Jet Airways has surged almost 150 per cent this year versus a 42 per cent plunge in the 27-member Bloomberg World Airlines Index, which comprises the globe's biggest carriers
A Bloomberg gauge of the sector shows nine of the world's top 10 airline stocks over the past three months are Chinese, with all but Air China shares posting double-digit gains
Even as costs are lower, demand weakness likely to keep airlines in the red for most of FY21
Grey market premiums have dropped to 10% after last week's market fall.
The benchmark index, however, is still about 7.5% below its record close on Feb. 19 and fears about the economic fallout remain at the forefront of investors' minds
The overall trend of IndiGo indicates a positive bias; however, the stock needs to either stabilise the steep move or show consolidation to gain a sustained rise in the coming sessions.
For Indigo, Rs 1,050 stays as strongest support for the counter and an immediate buying level at around Rs 1100, as per the chart
With crude oil falling to $57 per barrel, and oil companies cutting prices of aviation turbine fuel (ATF) by 14.7 per cent in January, it would seem like a ripe time to buy these stocks
InterGlobe Aviation that runs IndiGo, Jet Airways (India) and SpiceJet were up in the range of 4% to 5% on the BSE. On comparison, the S&P BSE Sensex was up 1.8% at 34,625 points at 10:38 am.
A day after InterGlobe Aviation announced its results, SpiceJet shares tumbled over 6% but managed to close in the green
Both operating and net profit declined by 73-74% over the year-ago quarter
Warren Buffett's recent interest in airlines has seen stocks go up globally