IndiGo’s ‘balancing game’ and JSW Steel’s contentious investment
Why read this story?
Editor's note: This is the eleventh edition of Street Smart, The Morning Context’s weekly newsletter on everything that impacts corporate India. Every Thursday, Street Smart will bring you an original, reported or analytical take on issues that have the potential to shake up the business ecosystem. Prince here. IndiGo’s stock falling a day after the announcement of its quarterly numbers is a rare occurrence. I looked for clues and found some in the analyst call addressed by its CEO Ronojoy Dutta. Equally curious was JSW Steel’s investment in JSW Paints, which again raised corporate governance concerns in a Jindal company. Let’s check why. Is IndiGo obsessed with market share? Being a CEO is a tough job. More so when one is at the helm of the largest company in the industry. Investors expect you to beat earnings forecasts, analysts pester you on margins and promoters, well, they want better revenues, margins, and of course, continued domination of the market. That is why when IndiGo CEO Ronojoy Dutta, responding to an analyst’s question on 27 July, hours after the airline announced its financial …
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