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When the government resumed the scheduled domestic flights on May 25 last year after a two-month break, the ministry allowed the carriers to operate not more than 33 per cent of their pre-Covid services.

“Q2 was a good platform to spring into growth. Hopefully India and the economy is on a trend up. We think we can tap into that and start gaining share, which we have been doing consistently and hopefully Q3 onwards the trajectory and the momentum is strong.”

Mining and energy stocks climbed 1 per cent and 0.7 per cent, respectively, boosted by oil prices at multi-year highs and copper prices advancing as inventories in Shanghai exchange warehouses dropped to a more than 12-year low. The focus is on a slew of earnings this week, including from Facebook, Microsoft, Deutsche Bank, and Lloyds Banking Group, as well as a European Central Bank meeting in Frankfurt on Thursday.

​JM Financial called September the perfect quarter for ICICI Bank and said the stock is up for rerating. It has a target of Rs 1,010 on the stock. Motilal sees the stock at Rs 1,000, Emkay Global at Rs 950, Edelweiss Rs 890 and Goldman Sachs at Rs 829.

The stock traded at a P/E multiple of 33.93, while the price-to-book value ratio stood at 5.07.

This is the first time since May 2015 that HUL lost to ICICI Bank in the m-cap race.

Rs 4,000-3,700 is a strong demand zone for IRCTC where one can expect some relief rally but 20-DMA, which is currently placed at Rs 4,500, will act as an immediate hurdle, said Santosh Meena, Head of Research at Swastika Investmart.

“With very steady cash flows, decent positions, India beverages business is growing from strength to strength. But the big jump will be in the food business as we go forward.”

A total of 128,956 shares changed hands on the counter till 01:37PM (IST).

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