IndiGo Soars— Next? | I₹54,000 Cr Defense Boost | Weight loss drug Mounjaro Debuts in India

To get your dose of daily business news, tune into Mint Top of the Morning on Mint Podcasts available on all audio streaming platforms. https://open.spotify.com/show/7x8Nv1RlOKyMV5IftIJwP1?si=bf5ecbaedd8f4ddc This is Nelson John, and I'll bring you the top business and tech stories, let's get started.  IndiGo Soars to New Highs but Faces Valuation Concerns IndiGo’s stock hit a 52-week high of ₹5,190, fueled by strong management commentary and rising air travel demand from the Mahakumbh gathering and an extended wedding season. Passenger traffic surged 17% YoY, lifting revenue per seat. Since January, the stock has gained 25%, delivering a 58% annual return—far outpacing the Nifty 50. However, its valuation of 9.5x earnings exceeds global airline peers like Air China (8.8x) and the industry average (5.5x). IndiGo plans to expand international capacity from 28% to 40% by 2030, adding one aircraft per week and cutting grounded planes. Despite strong fundamentals, analysts warn the upside is limited, with Motilal Oswal and Nuvama setting target prices below its current ₹5,097 level. Eli Lilly Brings Mounjaro to India Eli Lilly has launched Mounjaro, its diabetes and weight-loss drug, in India after securing regulatory approval. With over 101 million diabetes cases and rising obesity, India is a key market for the pharma giant. Already sold in the UK and Europe under the same name and as Zepbound in the U.S., Mounjaro is expected to tap into a global obesity drug market projected to reach $150 billion annually by the 2030s. CEO David Ricks had hinted at a 2025 India launch, and now it’s a reality. Accenture’s Warning Spells Trouble for IT Sector Accenture flagged macroeconomic uncertainty in the U.S., citing weaker earnings and federal contract delays under the Trump administration. The IT giant’s Q2 revenue fell 5.8% sequentially to $16.66 billion but grew 5.4% YoY. Its Q3 revenue outlook remains between $16.9 billion and $17.5 billion, with full-year growth guidance capped at 7%. For Indian IT majors like TCS, Infosys, and Wipro, this signals headwinds, as analysts predict slower growth for India’s $283-billion IT sector in FY26 due to high interest rates and geopolitical risks. However, AI offers a bright spot—Accenture secured $1.4 billion in Gen AI bookings last quarter, with total AI-related orders hitting $5.6 billion since September 2023. The Corporate Rebranding Wave: More Than Just a Name Change? Following Zomato’s shift to Eternal, CK Birla Group’s HIL Ltd has rebranded as BirlaNu Ltd, while Hindalco has also refreshed its identity. Experts say rebranding reflects strategic shifts, next-gen leadership, and market differentiation. Over 1,100 Indian companies have changed names in the past two decades, with BFSI, real estate, and IT leading the trend. A third of newly listed companies rebrand within five years of their IPO, highlighting competitive pressures. But does it impact stock prices? Not necessarily—PwC’s Raghav Narsalay notes that unless tied to a major business shift, investor reactions remain muted. India Approves ₹54,000 Crore Defence Boost India has cleared a massive military upgrade, approving key acquisitions for the Army, Navy, and Air Force. Highlights include: • Air Force: Airborne Early Warning & Control (AEW&C) aircraft to enhance aerial surveillance. • Army: Upgraded 1,350-HP engines for T-90 tanks, improving mobility in high-altitude regions. • Navy: Indigenously developed Varunastra torpedoes for anti-submarine warfare. The Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh, also announced measures to speed up procurement as part of the government’s “Year of Reforms” initiative. These moves reinforce India’s focus on military modernization and operational readiness. Learn more about your ad choices. Visit megaphone.fm/adchoices