Tale of the Tape 

Good evening everyone!

$NIFTY50.NSE ( ▼ 0.68% ) and Sensex (+0.2%) ended higher for a third day in a row. Midcaps (+2.6%) and Smallcaps (+2.4%) rocketed to the moon. 415 stocks in the NSE 500 ended in the green. Check out the Stocktwits Sentiment Meter:

Except IT (-1.1%) and FMCG (-0.6%), all other sectors were up. Real Estate (+2.8%) was the top gainer, followed by PSU Banks (+2%) and Energy (+1.8%).

Indigo hit an all-time high after unveiling its FY30 roadmap. Read our top story to get all the deets.

This midcap Tata-group stock could rally +30% over the next year. More details below.

Steel stocks were fired up today. Check out their charts below to find out why.

Shriram Finance (+4%) was the top Nifty gainer after announcing plans to expand its market share in the gold loan biz.

Defence stocks soared, as the big European military push rubbed off on our markets here. HAL, Garden Reach Shipbuilders and Mazagon Dock Shipbuilders rallied between +4% and +20%.

Vodafone Idea gained +5% after finally rolling out 5G services in its Mumbai circle. PS - the management also said it was in talks with Starlink for a tie-up!

Mahindra Lifespaces (+6%) partnered with Livingstone for a Rs 1,650 cr redevelopment project in South Mumbai.

GR Infraprojects soared +7% after bagging a massive Rs 4,253 cr project from the NHAI.

Here are the closing prints:

Stock
King Of The Skies!

$INDIGO.NSE ( ▼ 3.1% ) hit an all-time high after signalling a bullish outlook. ICYMI - the stock is up +8% YTD which is bonkers considering the recent correction. Here’s why the airline has been killing it and what the road ahead looks like:

1) What’s been working: Indigo’s posted solid topline growth for FY25, beating Street estimates every time. All engines are firing: with strong demand + its ancillary revenue kicking off. PS - yes its bottomline hasn’t been great, but that’s mostly due to external factors like the rupee’s big depreciation.

2) What’s cooking: The airline announced today it was aiming for 40% international capacity market share by FY30 vs 28% currently. FYI - international routes are one of two key growth levers for the firm. It’s aiming to add 14 more destinations across Asia & Europe in FY26, will boost its aircraft fleet to over 600 by FY30 (from ~480 now) and is projecting both capacity & passenger traffic to grow in “double digits”.

3) What to watch out for: The other big trigger is Indigo’s foray into premiumisation. It’s already started rolling out business class on select routes, but it’s aiming to have 45 aircraft with business class by 2026. This should help boost passenger revenue but will also involve higher costs. FYI - all of this needs to happen while fixing its bottom line issues (it reported a loss in Q2 and missed Q3 profit estimates).

TL;DR: The airline’s had a solid FY25 so far and is prepping for the next few years by betting  on international routes + business class revenue. Can it do all of this while holding true to its low-cost roots? Watch this space. PS - Elara has a target price of Rs 5,309 p/sh; +7% from current levels.