< -5%

Nirav Comm

-5% to -3%

ALUWIND INFRA

Sacheta Metals

Synthiko Foils

Maan Aluminium

Maitri

Sudal Ind

PG Foils

Golkonda Alum

Century Extr

Baheti

-3% to 0%

Sharvaya Metals

GSM Foils

NALCO

Galada Telecom

Sampat Aluminiu

Arfin India

Hind Aluminium

Manaksia Alumin

ANB Metal Cast

Hardwyn

Euro Panel

MMP Industries

0% to 3%

3% to 5%

DGP Securities, Alcon Finance & Investments, Kiddy Plast, Kemp and Company, and Piramal Vibhuti Investments, being the existing promoters, sold in total 26.07 percent stake (3.7 crore shares) in VIP Industries for Rs 1,436.88 crore.

Navi Mumbai International Airport, promoted by Adani Group, will begin commercial flights Thursday, easing congestion at Mumbai Airport. Phase I cost Rs 19,650 crore, handles 20 million passengers yearly, and will expand to 90 million after all phases.

shorts/business/multiples-pe-gift-fund-multiples-pe-fund-samvibhag-securities-pick-26-stake-in-vip-industries-from-promoters

Multiples PE Gift Fund, Multiples PE Fund, and Samvibhag Securities have acquired 25.55 percent equity stake in VIP Industries, the luggage company, from old promoters via open market transactions on December 24.

Multiples Private Equity Fund IV and Multiples Private Equity Gift Fund IV has already been classified as promoters in <a href="https://www.moneycontrol.com/india/stockpricequote/householdpersonal-products/vipindustries/VIP">VIP Industries</a> effective September 23 this year, holding 2.01 percent and 2.22 percent stakes, respectively since September 26 this year. Samvibhag Securities, Mithun Padam Sacheti and Siddhartha Sacheti also acquired 1.67 percent stake in the company at the same time.

As per the bulk deals data published on Wednesday, Multiples Private Equity Gift Fund IV has acquired additional 1.39 crore shares (equivalent to 9.79 percent of paid-up equity) in VIP Industries for Rs 539.88 crore, Multiples Private Equity Fund IV also bought additional 1.26 crore shares (8.88 percent stake) for Rs 489.5 crore, and Samvibhag Securities 97.65 lakh shares (6.87 percent stake) for Rs 378.91 crore.

The acquisition price for the above-mentioned total 25.55 percent stake is Rs 388 per share, valued at Rs 1,408.29 crore.

However, DGP Securities, Alcon Finance &amp; Investments, Kiddy Plast, Kemp and Company, and Piramal Vibhuti Investments, being the existing promoters, sold in total 26.07 percent stake (3.7 crore shares) in VIP Industries for Rs 1,436.88 crore.

DGP Securities sold 1.41 crore equity shares (9.93 percent stake out of its total 27 percent shareholding) for Rs 547.31 crore, Alcon Finance &amp; Investments 27.97 lakh shares (1.97 percent of 1.98 percent) for Rs 108.53 crore, Kiddy Plast 22.26 lakh shares (1.56 percent of 1.57 percent) for Rs 86.38 crore, Kemp and Company 33.43 lakh shares (2.35 percent of 2.36 percent) for Rs 129.71 crore at Rs 388 per share, while Piramal Vibhuti Investments sold 1.45 crore shares (10.25 percent of 10.26 percent) for Rs 564.93 crore at Rs 388.01 per share.

After this big stake sale, existing promoters - DGP Securities, Alcon Finance &amp; Investments, Kiddy Plast, Kemp and Company, and Piramal Vibhuti Investments informed exchanges on Wednesday (December 24) that their shareholding now reduced to 17.07 percent, 0.01 percent, 0.01 percent, 0.01 percent, and 0.01 percent, respectively in VIP Industries.

Multiples Private Equity Fund IV is a Category II Alternative Investment Fund (AIF) managed by Multiples Alternate Asset Management (MAAMPL), an while Multiples Private Equity Gift Fund IV is an investment fund managed by Multiples Asset Management IFSC LLP, a controlled entity of MAAMPL.

Perhaps, this seems to be the part of open offer launched for acquisition of up to 3.7 crore shares (26.03 percent stake) in VIP Industries at Rs 388 per share. Multiples Private Equity Fund IV and Multiples Private Equity Gift Fund IV (acquirers), together with Samvibhag Securities (portfolio company of Akash Bhanshali), Mithun Padam Sacheti, Siddhartha Sacheti, and Profitex Shares and Securities (PACs - persons acting in concert) are acquirers in the open offer launched in November this year.

In August this year, the Competition Commission of India had approved the acquisition of shareholding in VIP Industries by Multiples Private Equity Fund IV, Multiples Private Equity Gift Fund IV, Samvibhag Securities, Mithun Padam Sacheti and Siddhartha Sacheti.

The acquirers and the PACs had made a cash deposit of Rs 1,218.98 crore in the Open Offer Escrow Account on September 22, which was in addition to the initial cash deposit of Rs 218.8 crore made by them, taking the total cash deposited in the account is Rs 1,437.78 crore.

VIP Industries shares seem to have reacted to this big transaction, climbing 11.61 percent to Rs 408.05 (the highest closing level since October 30) amid significant volumes on Tuesday.

Meanwhile, the brisk action was also seen in <a href="https://www.moneycontrol.com/india/stockpricequote/hotels/vikramkamatshospitality/VR05">Vikram Kamats Hospitality</a>, which shares gained 1.35 percent to Rs 54.90. Green Portfolio through its Super 30 Dynamic Fund sold 1.36 lakh shares for Rs 75.19 lakh, however, The Golden Bird Investment Trust - I bought 1.7 lakh shares for Rs 93.33 lakh. The transacted price was Rs 54.9 per share.

<a href="https://www.moneycontrol.com/india/stockpricequote/transport-infrastructure/capitalinfratrust/CIT02">Capital Infra Trust</a> also remained in action. Larsen &amp; Toubro (which already held 2.4 percent stake as of September 2025) has acquired additional 1.64 crore units (5.98 percent stake) in the infrastructure investment trust at Rs 119.76 crore at Rs 72.68 per unit, and Ambit Wealth picked up 34.57 lakh units (1.25 percent stake) for Rs 25.1 crore at Rs 72.6 per unit.

However, Dharmayug Investments has offloaded 2.07 crore units in Capital Infra Trust (7.53 percent stake) for Rs 150.72 crore at Rs 72.6 per unit.

In <a href="https://www.moneycontrol.com/india/stockpricequote/mediaentertainment/zeemediacorporation/ZN">Zee News</a> (Zee Media Corporation), Auv Innovations LLP acquired 1.51 crore shares for Rs 14.22 crore, however, Miloeux Media &amp; Entertainment sold 1.5 crore shares for Rs 14.11 crore. The transaction price was Rs 9.41 per share.

Ownership, Material Conflicts of Interest and Disciplinary History

MCD is a wholly owned subsidiary of Network 18 Media & Investments Ltd ("Network18"), in which Independent Media Trust (IMT) holds 56.89% stake. Reliance Industries Limited ("RIL") is the sole beneficiary of IMT. Network18 and RIL and their subsidiaries, joint ventures and associates can be considered as associates of MCD.

Details of Associate

Receipt of Compensation

Third-Party Compensation

Employment History

Market-Making Activities

Use of Artificial Intelligence

Multiples PE Gift Fund, Multiples PE Fund, Samvibhag Securities pick 26% stake in VIP Industries from promoters

Multiples PE Gift Fund, Multiples PE Fund, and Samvibhag Securities have acquired 25.55 percent equity stake in VIP Industries, the luggage company, from old promoters via open market transactions on December 24.

Multiples Private Equity Fund IV and Multiples Private Equity Gift Fund IV has already been classified as promoters in VIP Industries effective September 23 this year, holding 2.01 percent and 2.22 percent stakes, respectively since September 26 this year. Samvibhag Securities, Mithun Padam Sacheti and Siddhartha Sacheti also acquired 1.67 percent stake in the company at the same time.

As per the bulk deals data published on Wednesday, Multiples Private Equity Gift Fund IV has acquired additional 1.39 crore shares (equivalent to 9.79 percent of paid-up equity) in VIP Industries for Rs 539.88 crore, Multiples Private Equity Fund IV also bought additional 1.26 crore shares (8.88 percent stake) for Rs 489.5 crore, and Samvibhag Securities 97.65 lakh shares (6.87 percent stake) for Rs 378.91 crore.

The acquisition price for the above-mentioned total 25.55 percent stake is Rs 388 per share, valued at Rs 1,408.29 crore.

However, DGP Securities, Alcon Finance &amp;amp; Investments, Kiddy Plast, Kemp and Company, and Piramal Vibhuti Investments, being the existing promoters, sold in total 26.07 percent stake (3.7 crore shares) in VIP Industries for Rs 1,436.88 crore.

DGP Securities sold 1.41 crore equity shares (9.93 percent stake out of its total 27 percent shareholding) for Rs 547.31 crore, Alcon Finance &amp;amp; Investments 27.97 lakh shares (1.97 percent of 1.98 percent) for Rs 108.53 crore, Kiddy Plast 22.26 lakh shares (1.56 percent of 1.57 percent) for Rs 86.38 crore, Kemp and Company 33.43 lakh shares (2.35 percent of 2.36 percent) for Rs 129.71 crore at Rs 388 per share, while Piramal Vibhuti Investments sold 1.45 crore shares (10.25 percent of 10.26 percent) for Rs 564.93 crore at Rs 388.01 per share.

After this big stake sale, existing promoters - DGP Securities, Alcon Finance &amp;amp; Investments, Kiddy Plast, Kemp and Company, and Piramal Vibhuti Investments informed exchanges on Wednesday (December 24) that their shareholding now reduced to 17.07 percent, 0.01 percent, 0.01 percent, 0.01 percent, and 0.01 percent, respectively in VIP Industries.

Multiples Private Equity Fund IV is a Category II Alternative Investment Fund (AIF) managed by Multiples Alternate Asset Management (MAAMPL), an while Multiples Private Equity Gift Fund IV is an investment fund managed by Multiples Asset Management IFSC LLP, a controlled entity of MAAMPL.

Perhaps, this seems to be the part of open offer launched for acquisition of up to 3.7 crore shares (26.03 percent stake) in VIP Industries at Rs 388 per share. Multiples Private Equity Fund IV and Multiples Private Equity Gift Fund IV (acquirers), together with Samvibhag Securities (portfolio company of Akash Bhanshali), Mithun Padam Sacheti, Siddhartha Sacheti, and Profitex Shares and Securities (PACs - persons acting in concert) are acquirers in the open offer launched in November this year.

In August this year, the Competition Commission of India had approved the acquisition of shareholding in VIP Industries by Multiples Private Equity Fund IV, Multiples Private Equity Gift Fund IV, Samvibhag Securities, Mithun Padam Sacheti and Siddhartha Sacheti.

The acquirers and the PACs had made a cash deposit of Rs 1,218.98 crore in the Open Offer Escrow Account on September 22, which was in addition to the initial cash deposit of Rs 218.8 crore made by them, taking the total cash deposited in the account is Rs 1,437.78 crore.

VIP Industries shares seem to have reacted to this big transaction, climbing 11.61 percent to Rs 408.05 (the highest closing level since October 30) amid significant volumes on Tuesday.

Meanwhile, the brisk action was also seen in Vikram Kamats Hospitality, which shares gained 1.35 percent to Rs 54.90. Green Portfolio through its Super 30 Dynamic Fund sold 1.36 lakh shares for Rs 75.19 lakh, however, The Golden Bird Investment Trust - I bought 1.7 lakh shares for Rs 93.33 lakh. The transacted price was Rs 54.9 per share.

Capital Infra Trust also remained in action. Larsen &amp;amp; Toubro (which already held 2.4 percent stake as of September 2025) has acquired additional 1.64 crore units (5.98 percent stake) in the infrastructure investment trust at Rs 119.76 crore at Rs 72.68 per unit, and Ambit Wealth picked up 34.57 lakh units (1.25 percent stake) for Rs 25.1 crore at Rs 72.6 per unit.

However, Dharmayug Investments has offloaded 2.07 crore units in Capital Infra Trust (7.53 percent stake) for Rs 150.72 crore at Rs 72.6 per unit.

In Zee News (Zee Media Corporation), Auv Innovations LLP acquired 1.51 crore shares for Rs 14.22 crore, however, Miloeux Media &amp;amp; Entertainment sold 1.5 crore shares for Rs 14.11 crore. The transaction price was Rs 9.41 per share.

Indian law student refuted claims that India's Pakistan policy is mere populism, Bhanushali cited terror attacks to justify India's security-driven stance., He contrasted India's restraint with Pakistan's alleged use of terrorism.

Indian law student Viraansh Bhanushali refuted claims that India’s Pakistan policy is mere populism, citing decades of terror attacks and arguing India’s responses are measured, not election-driven, while accusing Pakistan of using terror as state policy.

shorts/world/i-don-t-need-rhetoric-just-a-calendar-how-an-indian-student-exposed-pakistan-s-terror-narrative-at-oxford-union-watch

Hindustan Zinc shares rose over 6 percent in a three-day rally till Wednesday, tracking the continued surge in silver prices.

The stock touched a fresh 52-week high of Rs 631.90 on the NSE, rising 3.62 percent during the session. It is at its highest level since August 2024.

The rally in the stock came amid a sharp rise in prices of precious metals.

Gold crossed $4,500 an ounce for the first time on Wednesday, while silver and platinum also hit record highs, driven by safe-haven demand and expectations of further interest rate cuts in the US.

Silver touched an all-time high of $72.70 an ounce and was last trading 0.9 percent higher at $72.09. Platinum peaked at $2,377.50 before easing to trade 0.3 percent higher at $2,282.70.

US President Donald Trump said on Tuesday that he wants the next Federal Reserve chairman to lower interest rates if markets are performing well. Precious metals, which do not offer yields, tend to benefit in a low interest rate environment. Markets are currently factoring in two rate cuts next year.

<strong><em>(Inputs from Reuters)</em></strong>

<em><strong>Disclaimer</strong>: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Hindustan Zinc shares rise 6% in 3-day rally as silver's bull run continues

Hindustan Zinc shares rose over 6 percent in a three-day rally till Wednesday, tracking the continued surge in silver prices.

The stock touched a fresh 52-week high of Rs 631.90 on the NSE, rising 3.62 percent during the session. It is at its highest level since August 2024.

The rally in the stock came amid a sharp rise in prices of precious metals.

Gold crossed $4,500 an ounce for the first time on Wednesday, while silver and platinum also hit record highs, driven by safe-haven demand and expectations of further interest rate cuts in the US.

Silver touched an all-time high of $72.70 an ounce and was last trading 0.9 percent higher at $72.09. Platinum peaked at $2,377.50 before easing to trade 0.3 percent higher at $2,282.70.

US President Donald Trump said on Tuesday that he wants the next Federal Reserve chairman to lower interest rates if markets are performing well. Precious metals, which do not offer yields, tend to benefit in a low interest rate environment. Markets are currently factoring in two rate cuts next year.

(Inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Cupid shares surged over 500 percent this year, rising 10 times in two years, Promoter pledged shares cut to 20%, boosting investor confidence, Cupid makes condoms, lubricant jelly, and IVD kits with WHO/UNFPA pre-qualification.

* Cupid shares surged over 500 percent this year, rising 10 times in two years
* Promoter pledged shares cut to 20%, boosting investor confidence
* Cupid makes condoms, lubricant jelly, and IVD kits with WHO/UNFPA pre-qualification.

Cupid shares have surged over 500% in 2025 and 10 times in two years, driven by strong financials and reduced promoter share pledges. The condom-maker’s improved balance sheet and business momentum have boosted investor confidence and market value.

shorts/business/cupid-shares-rise-10x-in-two-years-now-promoter-reduces-pledge-from-36-to-20

* Cupid shares surged over 500 percent this year, rising 10 times in two years
* Promoter pledged shares cut to 20%, boosting investor confidence
* Cupid makes condoms, lubricant jelly, and IVD kits with WHO/UNFPA pre-qualification.

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/cupid/CR02">Cupid</a> have seen a significant surge this year so far, jumping over 500 percent. Several reasons may have led to the sharp uptrend in the stock, which has now jumped a whopping 10 times in two years.

The shares of the condom-maker closed more than 1 percent higher at Rs 474.65 apiece on December 24.
<h3><strong>What does Cupid do?</strong></h3>
Cupid manufactures and supplies male and female condoms, water-based lubricant jelly and IVD kits. The company has a current capacity of over 480 million pieces for male condoms, 52 million pieces of the female condoms and 210 million sachets of lubricant jelly per annum.

The company's manufacturing facility is located at Sinnar near Nashik, about 200 km east of Mumbai. It claims to be the first company in the world to obtain pre-qualification status from WHO/UNFPA for supply of both male and female condoms.
<h3><strong>Cupid promoter pledge:</strong></h3>
In an exchange filing released on December 23, Cupid announced that the pledged shareholding in the company today stands at 20 percent, after being reduced from 36.13 percent as on September 30.

The firm said that this meaningful reduction highlights its improving financial strength and the promoters’ strong confidence in its long-term growth trajectory. The lower level of pledged shares is expected to further enhance investor confidence and reflects the company’s disciplined financial management, it added.

"The reduction in promoter share pledge is a reflection of our strengthening balance sheet and sustained business momentum. It reinforces our commitment to maintaining financial prudence, transparency, and long-term value creation for our shareholders," said Aditya Kumar Halwasiya, Chairman and Managing Director, Cupid.
<h3><strong>Cupid share price history:</strong></h3>
Cupid shares have surged nearly 10 percent in the past five days, and around 41 percent in the past one month. The stock rallied 395 percent in the past six months, 524 percent in 2025 so far and a whopping 3,752 percent in the past five years.

Its P/E ratio currently stands at 264.54. Market capitalisation of the company stands at Rs 12,743 crore.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Cupid shares rise 10x in two years; now, promoter reduces pledge from 36% to 20%

The shares of Cupid have seen a significant surge this year so far, jumping over 500 percent. Several reasons may have led to the sharp uptrend in the stock, which has now jumped a whopping 10 times in two years.

The shares of the condom-maker closed more than 1 percent higher at Rs 474.65 apiece on December 24.
What does Cupid do?
Cupid manufactures and supplies male and female condoms, water-based lubricant jelly and IVD kits. The company has a current capacity of over 480 million pieces for male condoms, 52 million pieces of the female condoms and 210 million sachets of lubricant jelly per annum.

The company's manufacturing facility is located at Sinnar near Nashik, about 200 km east of Mumbai. It claims to be the first company in the world to obtain pre-qualification status from WHO/UNFPA for supply of both male and female condoms.
Cupid promoter pledge:
In an exchange filing released on December 23, Cupid announced that the pledged shareholding in the company today stands at 20 percent, after being reduced from 36.13 percent as on September 30.

The firm said that this meaningful reduction highlights its improving financial strength and the promoters’ strong confidence in its long-term growth trajectory. The lower level of pledged shares is expected to further enhance investor confidence and reflects the company’s disciplined financial management, it added.

&quot;The reduction in promoter share pledge is a reflection of our strengthening balance sheet and sustained business momentum. It reinforces our commitment to maintaining financial prudence, transparency, and long-term value creation for our shareholders,&quot; said Aditya Kumar Halwasiya, Chairman and Managing Director, Cupid.
Cupid share price history:
Cupid shares have surged nearly 10 percent in the past five days, and around 41 percent in the past one month. The stock rallied 395 percent in the past six months, 524 percent in 2025 so far and a whopping 3,752 percent in the past five years.

Its P/E ratio currently stands at 264.54. Market capitalisation of the company stands at Rs 12,743 crore.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Naagin 7 premieres December 27, 2025, with new mysteries and drama., Sahil Uppal plays Vikram, a human who marries Namik Paul's character's sister., Tejasswi's cameo as Pragati will impact the storyline in the first episode.

* Naagin 7 premieres December 27, 2025, with new mysteries and drama.
* Sahil Uppal plays Vikram, a human who marries Namik Paul's character's sister.
* Tejasswi's cameo as Pragati will impact the storyline in the first episode.

Naagin 7 premieres December 27, 2025, featuring Sahil Uppal as Vikram, a human character who marries Namik Paul’s character’s sister, adding emotional drama. Tejasswi appears in a cameo as Pragati, impacting the storyline in the first episode.

shorts/entertainment/naagin-7-sahil-uppal-s-character-details-revealed-no-superpowers-but-will-have-a-strong-connection-with-namik-paul-s-character

Orkla India shares settled higher on Wednesday after ICICI Securities initiated coverage on the stock with a ‘Buy’ rating.

The stock settled at Rs 612 apiece on the NSE, up 0.39 percent from the previous close.

ICICI Securities set a price target of Rs 800, indicating an upside potential of about 30 percent from current levels.

The brokerage said Orkla India’s core strength lies in its dominant market position in southern India through its legacy brands MTR and Eastern, along with continued expansion of its distribution network.

It added that exports account for about 21 percent of the company’s revenue, making Orkla India the country’s largest branded spice exporter with presence in over 40 countries. It expects exports to grow at a compounded annual growth rate of around 12 percent during FY25 to FY28.

ICICI Securities also expects margin expansion and stronger cash flow generation on the back of operational efficiencies and an improved product mix, which could lead to a meaningful improvement in return on capital employed, reported Informist.

Earlier, global brokerage JPMorgan initiated coverage on <a href="https://www.moneycontrol.com/india/stockpricequote/consumer-food/orklaindia/OIL02">Orkla India</a> with an ‘Overweight’ rating and a price target of Rs 745.
<h3><a href="https://www.moneycontrol.com/news/business/markets/jpmorgan-initiates-coverage-on-orkla-india-with-overweight-sees-up-to-21-upside-13729955.html" target="_blank"><strong>JPMorgan initiates coverage on Orkla India with 'overweight', sees up to 21% upside</strong></a></h3>
Orkla India reported a 7.26 percent decline in its net profit at Rs 76.68 crore in the September quarter. The company had posted a net profit of Rs 82.69 crore during the July-September period a year ago.

Its revenue from operations grew 4.92% to Rs 650.28 crore in the September quarter. It was Rs 619.76 crore in the corresponding period a year ago.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Orkla India shares rise as ICICI Securities initiates coverage with 'Buy' rating

Orkla India shares settled higher on Wednesday after ICICI Securities initiated coverage on the stock with a ‘Buy’ rating.

The stock settled at Rs 612 apiece on the NSE, up 0.39 percent from the previous close.

ICICI Securities set a price target of Rs 800, indicating an upside potential of about 30 percent from current levels.

The brokerage said Orkla India’s core strength lies in its dominant market position in southern India through its legacy brands MTR and Eastern, along with continued expansion of its distribution network.

It added that exports account for about 21 percent of the company’s revenue, making Orkla India the country’s largest branded spice exporter with presence in over 40 countries. It expects exports to grow at a compounded annual growth rate of around 12 percent during FY25 to FY28.

ICICI Securities also expects margin expansion and stronger cash flow generation on the back of operational efficiencies and an improved product mix, which could lead to a meaningful improvement in return on capital employed, reported Informist.

Earlier, global brokerage JPMorgan initiated coverage on Orkla India with an ‘Overweight’ rating and a price target of Rs 745.
JPMorgan initiates coverage on Orkla India with 'overweight', sees up to 21% upside
Orkla India reported a 7.26 percent decline in its net profit at Rs 76.68 crore in the September quarter. The company had posted a net profit of Rs 82.69 crore during the July-September period a year ago.

Its revenue from operations grew 4.92% to Rs 650.28 crore in the September quarter. It was Rs 619.76 crore in the corresponding period a year ago.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

IndiGo shares fell over 2 percent after NOCs cleared for two new airlines, Al Hind Air and FlyExpress received government NOCs to begin operations, IndiGo holds over 60% market share; competition scrutiny underway

* IndiGo shares fell over 2 percent after NOCs cleared for two new airlines
* Al Hind Air and FlyExpress received government NOCs to begin operations
* IndiGo holds over 60% market share; competition scrutiny underway

IndiGo shares fell over 2% after the government granted no objection certificates to new airlines Al Hind Air and FlyExpress, increasing competition in India's aviation market where IndiGo holds over 60% share. The stock hit a four-session low.

shorts/business/indigo-shares-fall-2-after-govt-grants-nocs-to-two-new-airlines

* IndiGo shares fell over 2 percent after NOCs cleared for two new airlines
* Al Hind Air and FlyExpress received government NOCs to begin operations
* IndiGo holds over 60% market share; competition scrutiny underway

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/transportlogistics/interglobeaviation/IA04">InterGlobe Aviation</a>, the parent company of popular airline IndiGo, dropped more than 2 percent on December 24 after government cleared no objection certificates (NOC) to two new airlines.

IndiGo shares fell to Rs 5,047.50 apiece, the lowest level seen by the stock in four sessions.

Union Aviation Minister Ram Mohan Naidu Kinjarapu took to X (formerly Twitter) to say that Al Hind Air and FlyExpress have received NOCs from the government to begin operations, after Shankh Air.

"Over the last one week, pleased to have met teams from new airlines aspiring to take wings in Indian skies—Shankh Air, Al Hind Air and FlyExpress," Naidu wrote in his post on X. "While Shankh Air has already got the NOC from Ministry, Al Hind Air and FlyExpress have received their NOCs in this week," he added.
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Over the last one week, pleased to have met teams from new airlines aspiring to take wings in Indian skies—Shankh Air, Al Hind Air and FlyExpress.</p>
While Shankh Air has already got the NOC from Ministry, Al Hind Air and FlyExpress have received their NOCs in this week.

It has… <a href="https://t.co/oLWXqBfSFU">pic.twitter.com/oLWXqBfSFU</a>

— Ram Mohan Naidu Kinjarapu (@RamMNK) <a href="https://twitter.com/RamMNK/status/2003481008793092205?ref_src=twsrc%5Etfw">December 23, 2025</a></blockquote>
<script src="https://platform.twitter.com/widgets.js" async="" charset="utf-8"></script>

Shankh Air aims to connect major cities in Uttar Pradesh—including Lucknow, Varanasi, Agra, and Gorakhpur. Al Hind Air is part of Kerala's Alhind Group, while Fly Express is a Hyderabad-based courier and cargo services company.

According to its website, Al Hind aims to begin operations in southern India with a fleet of ATR Turboprop aircraft. It is in the process of obtaining an Air Operator Certificate. A banner on Fly Express' website also said "coming soon."

An NOC allows airlines to formally begin setting up operations, but does not permit commercial flying.

Naidu highlighted that the government is actively encouraging new airlines to enter what is among the fastest-growing aviation markets in the world. "Schemes like UDAN have enabled smaller carriers like Star Air, India One Air, Fly91, among others, to play an important role in the regional connectivity within the country, and there is more scope for further growth," he said.

IndiGo currently holds over 60 percent market share, while the Air India Group controls about 25 percent, with smaller players such as Akasa Air and SpiceJet trailing far behind. The Competition Commission of India is examining IndiGo’s market position under competition rules.

The calls for more players in India’s aviation industry came under the limelight after a widespread crisis at IndiGo led to massive cancellations and chaos at major airports.
<h3><strong>IndiGo share price:</strong></h3>
IndiGo shares have gained more than 2 percent in the past five days, but fell over 12 percent in the past one month. The stock has fallen over 9 percent in the past six months.

The stock's P/E ratio stands at around 30.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-start-us-asian-markets-advance-liveblog-13740193.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

IndiGo shares fall 2% after govt grants NOCs to two new airlines

The shares of InterGlobe Aviation, the parent company of popular airline IndiGo, dropped more than 2 percent on December 24 after government cleared no objection certificates (NOC) to two new airlines.

IndiGo shares fell to Rs 5,047.50 apiece, the lowest level seen by the stock in four sessions.

Union Aviation Minister Ram Mohan Naidu Kinjarapu took to X (formerly Twitter) to say that Al Hind Air and FlyExpress have received NOCs from the government to begin operations, after Shankh Air.

&quot;Over the last one week, pleased to have met teams from new airlines aspiring to take wings in Indian skies—Shankh Air, Al Hind Air and FlyExpress,&quot; Naidu wrote in his post on X. &quot;While Shankh Air has already got the NOC from Ministry, Al Hind Air and FlyExpress have received their NOCs in this week,&quot; he added.

Over the last one week, pleased to have met teams from new airlines aspiring to take wings in Indian skies—Shankh Air, Al Hind Air and FlyExpress.
While Shankh Air has already got the NOC from Ministry, Al Hind Air and FlyExpress have received their NOCs in this week.

It has… pic.twitter.com/oLWXqBfSFU

— Ram Mohan Naidu Kinjarapu (@RamMNK) December 23, 2025


Shankh Air aims to connect major cities in Uttar Pradesh—including Lucknow, Varanasi, Agra, and Gorakhpur. Al Hind Air is part of Kerala's Alhind Group, while Fly Express is a Hyderabad-based courier and cargo services company.

According to its website, Al Hind aims to begin operations in southern India with a fleet of ATR Turboprop aircraft. It is in the process of obtaining an Air Operator Certificate. A banner on Fly Express' website also said &quot;coming soon.&quot;

An NOC allows airlines to formally begin setting up operations, but does not permit commercial flying.

Naidu highlighted that the government is actively encouraging new airlines to enter what is among the fastest-growing aviation markets in the world. &quot;Schemes like UDAN have enabled smaller carriers like Star Air, India One Air, Fly91, among others, to play an important role in the regional connectivity within the country, and there is more scope for further growth,&quot; he said.

IndiGo currently holds over 60 percent market share, while the Air India Group controls about 25 percent, with smaller players such as Akasa Air and SpiceJet trailing far behind. The Competition Commission of India is examining IndiGo’s market position under competition rules.

The calls for more players in India’s aviation industry came under the limelight after a widespread crisis at IndiGo led to massive cancellations and chaos at major airports.
IndiGo share price:
IndiGo shares have gained more than 2 percent in the past five days, but fell over 12 percent in the past one month. The stock has fallen over 9 percent in the past six months.

The stock's P/E ratio stands at around 30.

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