This rally was unexpected as the sentiment was largely negative and there were too many short sellers globally, when the US Fed made the statement that they had reached a neutral rate. We believe the market is not cheap at current levels, but if FIIs keep buying, markets will head higher. This rally now looks a bit stretched, but we can be wrong, if interest rates have reached the peak.
IndiGo profit falls on higher cost on older planes
The airline was forced to induct older planes due to grounding led by issues of Pratt & Whitney engines