HDFC Bank advances rose 53% to Rs 24.87 lakh crore. LIC boosted IDFC First Bank’s stake to 2.68%. Dr Reddy’s, Sun Pharma recalled items in the US. PNB’s global business grew 10%. Raymond Realty, Poonawalla Fincorp, IDBI, Ujjivan SFB, Lloyds Metals, RBL Bank’s deposits rose 18%, and Mahindra Lifespace will redevelop Mumbai societies.
Jefferies views IndiGo as unique and strong franchise, raises target price to Rs 5,260
The IndiGo stock has underperformed following a significant miss in the company’s 2Q results, driven by higher costs impacting profitability. However, Jefferies expects cost normalization