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HSBC raises target price of Titagarh Wagons on strong prospects for passenger rail system orders, sees 10% upside
HSBC raises Titagarh Wagons target to Rs 2,000 due to metro contracts and Indian Railways modernization. Despite 5% Q1 FY25 profit growth, a 28% CAGR shows robust potential. Industry seasonality impacts 16% year-on-year IR's wagon additions. A 45x P/E, JVs, and 74% stock surge strengthen Titagarh's promising outlook.
India's auto retail sales register 0.73% annual growth in June on the back of prolonged heatwave
India's auto retail sales saw a 0.73 per cent annual growth in June, largely due to delayed monsoons in certain regions. The two-wheeler and three-wheeler segments saw positive YoY growth of 4.66 per cent and 5.1%, respectively. However, passenger vehicles, tractors, and commercial vehicles sales declined 6.7%, 28.3%, and 4.7%, respectively.
Regional airports found wind beneath their wings in FY24
India's hinterland air travel surged last year, driven by civil aviation ministry data and government schemes. Airports like Diu, Pantnagar, Tezpur, and Prayagraj saw significant growth, boosted by the Udan scheme and low fares. IndiGo and other airlines expanded services, with CFO Gaurav Negi highlighting the importance of regional routes for broader networks.
Best Ruskin Bond Books in India for the Childish Reader in You (2024)
If you are looking for books by Ruskin Bond, then hop on the adventure trail slash this article where you can explore cherished works by the said author. We have ensured to provide you with the essence of every book so that you can take an informed decision about buying the book. (Buy all of them.)
Car sales lose pace in June, SUVs stay in front
Passenger vehicle sales in India remained sluggish for the third consecutive month in June due to a high base and reduced post-pandemic pent-up demand. Sales rose 3.7% from a year earlier but slightly declined from May, with 340,784 units sold compared to 328,710 last year. SUVs comprised 53% of sales.
Tata Motors' passenger EV sales dropped 34 pc in June
Tata Motors experiences sales decline in passenger vehicles, including EVs, in June. Despite challenges, the company foresees a recovery in demand, especially with the upcoming festive season. Tata Motors stands ready to capitalize on growth opportunities, driven by a strong SUV portfolio and expanding presence in the international market.
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Capture the theme at the right time: Is investment in EV a good long-term bet?
The rise in EVs can be attributed to two main factors, first, a substantial global push by governments to achieve net zero emissions through various policy measures; and second, a nearly 90% decrease in battery costs over the past ten years, which has made EVs more affordable and, as a result, brought them closer to cost parity with internal combustion engines (ICE)
Going to work or college is like going to war in Mumbai local: Bombay HC expresses shame over 'cattle-class' situation
The Bombay High Court criticized Mumbai's railway conditions, emphasizing the Railways' responsibility for passenger safety amid high fatalities from train falls and track crossings. Chief Justice Devendra Kumar Upadhyaya expressed shame over the situation, demanding accountability from officials. The court's scrutiny followed a PIL highlighting inadequate infrastructure and urged urgent measures to address the alarming death toll on Mumbai's suburban trains.
Expect Indian PV market to touch 60 lakh units by 2030, targeting 18-20 pc share: Tata Motors
Tata Motors targets significant market share growth by FY30, focusing on EVs, CNG vehicles, and new product offerings. The company strategically prepares for upcoming CAFE III norms and aims to capitalize on industry transitions for sustainable growth.
Korean Air flight descends 25,000 feet in five minutes due to depressurization, passengers hospitalized with nosebleeds
A Korean Air aircraft flying to Taiwan had to return to Incheon Airport due to an unexpected depressurization. The 737 Max has a problematic past, including crashes in Ethiopia and Indonesia in 2018 and 2019.
Did a Southwest Airlines flight flying over Hawaii nearly crash into the ocean?
A flight flying over Hawaii nearly crashed into the ocean when it attempted to land due to prevailing weather conditions. The pilot aborted the landing and returned to the base.
Passengers jump off train over fire rumour, some hit by goods train on adjacent track: Dhanbad DRM
The incident occurred around 8 pm at the Kumandih railway station in Dhanbad Division, its Divisional Railway Manager said. "We don't have the confirmed number of deaths but I have come to know that some casualties are there. We are trying to gather more information," he told PTI.
Mumbai airport enhances passenger processing capacity, to deploy AI-enabled cameras
Mumbai airport has enhanced its processing capacity to about 8,000 passengers per hour and reduced wait times to under a minute with expanded DigiYatra and non-DigiYatra facilities. The airport now has 68 entry lanes, the highest number in the country, including 34 dedicated to DigiYatra. Terminal 1 features six dedicated DigiYatra e-gates and six non-DigiYatra e-gates. Additionally, 118 new e-gates at Terminal 2 will streamline security checks.
May auto retails impacted by heatwave and elections, dip 5.3% MoM: FADA
In May, auto retail sales dropped by 5.28% from the previous month, influenced by the heatwave and the recent Lok Sabha elections, according to FADA. However, annual figures showed a 2.6% increase. Two-wheelers and commercial vehicles saw year-on-year growth, while passenger vehicles and tractors slightly contracted.
Delhi Airport plans to raise capacity by 30% in 3 years
Delhi International Airport (DIAL) plans to expand capacity by 30% due to increased aircraft orders. CEO Videh Kumar Jaipuriar discussed the expansion at the CAPA India Aviation Summit.
Why did Air Canada Boeing emit flames immediately after take-off from Toronto? Watch video
What happened to carrying 400 passengers that its tail started throwing out flames immediately after taking off from Toronto?
Expanded T1 likely to open in June; working on boosting international passenger capacity: DIAL chief
The Indira Gandhi International Airport (IGIA) in the national capital currently has an annual capacity to handle 100 to 105 million passengers and the international passenger capacity is around 22 million.
Airport industry's pre-tax profit to grow 35% in FY25, CAPA India says
India's airport industry is expected to see a 35% rise in pre-tax profit for fiscal year 2025, driven by strong demand for air travel, as estimated by aviation consultancy CAPA India.
India airline industry to report wider loss in FY25, consultancy says
India's airline industry is projected to face widening losses of $400-600 million in fiscal 2025 due to escalating costs despite increased passenger demand. CAPA India forecasts a rise in yields by 1% this year, with overall costs to increase by 3.8%. The market is dominated by low-cost carrier IndiGo, while the Air India group and newer carriers like Akasa Air and SpiceJet also play significant roles. Domestic passenger traffic is expected to grow to 161-164 million, with international traffic reaching 75-78 million, reflecting India's status as the world's fastest-growing aviation market.
Bomb threat: IndiGo flight from Chennai makes emergency landing after unclaimed remote was found
An IndiGo flight from Chennai to Mumbai with 172 people onboard made an emergency landing due to a bomb threat, safely arriving at 8:45 am. This is the second such threat in a week. Following evacuation, the aircraft underwent security checks. IndiGo has yet to comment on the incident.
Over 200 passengers of Air India Delhi-SFO flight face 30 hrs ordeal with inordinate delay
More than 200 passengers of a San Francisco-bound Air India flight faced a 30-hour delay due to a technical glitch, non-functional air conditioning, and payload issues. The flight was rescheduled several times before finally being delayed due to temperature issues. Passengers, including the elderly and children, endured discomfort and were offered options like full refund and complimentary rescheduling. The delay led to a show cause notice from the aviation regulator and marked the second such incident in a week for Air India's San Francisco flights.
Passengers face inconvenience as Kolkata Airport suspends flight operations amid cyclone 'Remal' scare
Passengers complained that the airlines did not inform them about the cancellation of their flights through email or registered phone number. Some of them demanded hotel costs and food allowance from the airline. Flight operations at Kolkata airport were suspended for 21 hours due to cyclone 'Remal'.
Singapore Airlines shares slip 1.3% after turbulent flight
One passenger died of a suspected heart attack and dozens were injured after flight Singapore Airlines SQ321 encountered what the airline described as sudden, extreme, turbulence while flying over Myanmar on Tuesday.
India's aviation may fly into a good growth zone, air passenger traffic may grow around 8-11%: ICRA
India's airport operators and aviation stakeholders are expected to see a positive outlook as air passenger traffic is projected to grow 8-11% YoY to 407-418 million this fiscal year. The growth will be driven by increased leisure and business travel, improved connectivity, and rising international travel. Revenues for ICRA's sample set are estimated to rise 15-17% YoY, with the Indian airport passenger traffic outperforming global trends and expected to remain strong.
Can the aviation sector clock 15% plus earnings trajectory? Icra’s Kinjal Shah answers
ICRA's Kinjal Shah discusses the stable cost environment in the aviation industry with a 14% YoY decline in fuel prices, leading to a decline in net loss. She highlights growth opportunities in the domestic aviation industry and the significance of international operations for carriers. Further Shah says: "We would see two years of 8% to 13% growth for the aviation passenger traffic in the domestic sector."
Passenger traffic at Mumbai airport rises 16% to 52.8 million in FY24
Mumbai airport's passenger traffic increased by 16% YoY to 52.8 million in FY24, according to the airport operator. The airport handled 43.9 million passengers in the previous fiscal. The surge was attributed to both domestic and international passenger traffic. Air traffic movements increased by 12% in FY24, while bag processing reached 40.7 million, a 31% year-on-year increase.
Passenger vehicle wholesales surge; up by 8.4% in FY24, SIAM data shows
India's passenger vehicle wholesales reached a new high of 42,18,746 units in the 2023-24 financial year, an 8.4% increase from the previous year. The growth was attributed to strong demand for utility vehicles, with two-wheeler sales seeing a 13.3% growth. Vehicle sales across all categories also rose by 12.5%. Exports experienced a 5.5% decline. The Indian automobile industry's growth was attributed to India's 7.6% economic growth and favorable government policies.
From Tata Capital to Bigbasket: Tata Group plans 8 mega IPOs in bonanza for investors
Tata Group ended the 20-year hiatus with Tata Technologies IPO last year. However, investors may not need to wait that long for the next public offer as the salt-software conglomerate is planning numerous public issues in the next two to three years, according to an ET report.
Domestic air traffic rises 4.8 per cent to 126.48 lakh in Feb
February domestic air traffic rose by 4.8%, reaching 126.48 lakh passengers. Airlines paid Rs 222.11 lakh for delays affecting 1,55,387 passengers. SpiceJet's market share dropped to 5.2%, while Air India's OTP was 56.4%.
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