If the Fed hikes the rate by 75 bps, we don’t expect a significant negative impact on the Indian market. In fact, after every 75 bps rate hike (as seen in June and July 2022), the Indian market rose. We expect a similar pattern to play out this time as well.
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