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Promoters held 59.4 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 25.16 per cent and 2.75 per cent, respectively.

After a strong July when the stock rose more than 24 per cent in July, and over 3 per cent so far in August suggests that the upward journey for the stock has started which could stretch it for the next couple of months.

A total of 3,947 shares changed hands on the counter till time (IST).

The stock is trading above 9, 20, 100 and 200-SMA averages. On the upside, Rs 550 is an immediate susceptible area; above this, we are expecting a long run-up towards Rs 600 levels. On the downside, Rs 420 is the critical level.

"Overall, India has good demand, so the consumption-based sector will prove beneficial for economic growth. Increasing government fillip to the sector of defence will prove beneficial for defence start-ups in the long run too. In the long run, increasing government support for the defence industry will be advantageous for defence start-ups as well."

InterGlobe Aviation Ltd., incorporated in the year 2004, is a Large Cap company (having a market cap of Rs 75906.74 Crore) operating in Airlines sector.

"The FII selling pressure has also eased out now. Consequently, investors should look at dips as an opportunity to nibble rather than keep waiting on the side lines. As an investor, one needs to keep the Big Picture in mind. Indian economy is on a multi-year upcycle on the back of positive signs across all the three growth engines namely real estate cycle, private capex cycle and infra spending."

Top crypto tokens were trading higher on Monday. BNB rose more than 5 per cent, whereas Solana, Shiba Inu and Polygon gained 3 per cent each. Dogecoin was the only altcoin in red.

Richmond Fed President Thomas Barkin said on Friday that the "urge" among central bankers was towards faster, front-loaded rate increases. Odds of 50-basis points or 75-basis points Fed rate hike at September meeting almost even. Focus this week on comments by Fed Chair Jerome Powell on Friday at the annual symposium in Jackson Hole, Wyoming.

"Fed speakers have been stressing the message that more rate hikes are coming given the fight against inflation has not yet been won," rattling markets ahead of Jackson Hole on Aug. 25-27, amid growing expectations for Fed Chair Jerome Powell to stress that tightening is "still a long way from the end," Rodrigo Catril, senior FX strategist at National Australia Bank, wrote in a client note.