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A "surprisingly bad outcome" in national elections, and any changes in capital gains tax in upcoming July budget could act as triggers for a near-term correction in Indian markets, Christopher Wood, global head of equity strategy at Jefferies said.While a shock BJP defeat in 2024 elections is "extremely unlikely", markets could correct even more than the 17% fall in two sessions after the election results in 2004, Wood said.India's national election results are due on June 4 with the ruling BJP is expected to return to power.Wood added a bigger risk to markets could be potential changes in capital gains tax, which could be announced in the union budget in July."The issue is whether tax rates will be raised or whether the period to qualify for long-term capital gains, or a combination of both," said Jefferies.Currently, short-term capital gains are levied at 15% and long-term gains at 10% with the holding period defined as one year.Woods notes another proposal would be to increase capital gains tax for retail investors but not for mutual fund investors.

Series and movies from India clocked over 1 billion views on Netflix in 2023, the streaming service said on Friday in its second engagement report. The report, titled "What We Watched: A Netflix Engagement Report", presented the streaming service's viewership data for the period of July to December 2023. Subscribers across the world watched about 90 billion hours of content on Netflix in the second half of 2023. From India, Sujoy Ghosh's "Jaane Jaan" was the most watched movie on Netflix with 20.2 million views, followed by Shah Rukh Khan's "Jawan" with 16.2 million views and Vishal Bhardwaj's "Khufiya" with 12.1 million views. The other popular titles include "OMG 2" (11.5 million views), "Lust Stories 2" (9.2 million views), "Dream Girl 2" (8.2 million views) and true-crime documentary "Curry & Cyanide" (8.2 million views). From the series that were launched on Netflix, "The Railway Men", starring Kay Kay Menon, Babil Khan and Divyenndu, turned out to be the top title. The series, set against the backdrop of the 1984 Bhopal Gas Leak, attracted 10.6 millions views, followed by Suvinder Vicky and Barun Sobti-starrer "Kohraa" (6.4 million views), Raj and DK's "Gun and Gulaabs" (6.4 million views) and "Kaala Paani" (5.8 million views). Globally, non-English shows and movies are very popular with Netflix subscribers, making up nearly a third of all viewing, according to the report. This includes Korean (with 9 per cent of viewing), Spanish (7 per cent) and Japanese (5 per cent) language stories captured the biggest share of viewing outside of English. The report highlighted stand-outs titles like "Dear Child" (53 million views) from Germany, "Forgotten Love" (43 million views) from Poland, "Pact of Silence" (21 million views) from Mexico, "Mask Girl" (19 million views) from Korea, "Yu Yu Hakusho" (17 million views) from Japan and "Berlin" (11 million views) from Spain. The most watched movie title on Netflix was "Leave the World Behind", starring Ethan Hawke and Julia Roberts, generating 121 million views, followed by Adam Sandler's animated film "Leo" (96 million views). From the series side, anime-inspired live action series "One Piece" attracted 72 million views. The report also highlighted that fan favourites original titles "Wednesday", "Red Notice" and "Squid Game" continued to bring in millions of views in 2023, long after they premiered on Netflix.

Shares of InterGlobe Aviation, which operates IndiGo Airlines, rose nearly 3% in Friday's trade on BSE to its new 52-week high of Rs 4,520 after the company’s PAT more than doubled to Rs 1,895 crore in Q4.Revenue from operations increased 26% year-on-year (YoY) to Rs 17,825 crore in the reporting quarter while the airline's passenger ticket revenues grew 25% YoY to Rs 15,601 crore.Here’s what analysts from various global and domestic brokerages say:NuvamaNuvama stated that IndiGo’s growth is attributable to strong capacity addition, low ATF cost, and a rise in yields. RPKM rose as the demand stayed strong while the international segment surged 49% YoY. Nuvama further believes cost realization to continue and yields to remain healthy as a duopolistic structure bodes well for the company.Nuvama maintained a ‘buy’ view of the stock with a target price of Rs 5,192.Bank of AmericaThe global brokerage firm has lifted its estimates after Q4 beat. They expect a temporary margin squeeze in Q1FY25 but the earnings growth story is intact beyond the near term.BofA has retained a ‘buy’ on IndiGo with a target price of Rs 4,900.Emkay Global“Indigo is unveiling a tailor-made business-class offering by Aug-24; internationalization remains a key strategy. We raise FY25/26E EPS by 2%/7% to build in lower fuel cost,” said Emkay Global.The domestic brokerage firm has retained a ‘buy’ rating on IndiGo with a target price of Rs 5,000.Kotak Institutional EquitiesIndigo continued to benefit from constrained capacity in the sector, with growing yields more than compensating for growing costs. While noting the case of spreads potentially declining YoY in FY2025 over a high base, Indigo’s undeterred focus is to create building blocks for changing the travel needs of a fast-growing India. The key to making such big strides in product offerings is a steady supply of aircraft until 2035, something that challengers lack and will increase lead for Indigo.KIE has a ‘buy’ view on the stock with a revised target price of Rs 5,100 from an earlier Rs 4,700.Also read: New highs on D-Street! Nifty scales Mt 23K, Sensex hits fresh peakInvestecInvestec believes that while Q4 results were impressive, an earnings deceleration is lined ahead. The brokerage firm does not anticipate a repeat of a similar performance in FY25 given the substantial increase in CASK. Further, a drop in FY26 earnings has been estimated due to tax implications.Investec has maintained a ‘hold’ view on the stock with a target of Rs 4,050.Motilal OswalIndiGo is working to increase its international presence through strategic partnerships and loyalty programs. The management has also been taking several pre-emptive measures to increase its global brand awareness, as it expects to capture a bigger share of growth from its international market in the coming years.Motilal reiterated its ‘neutral’ rating with a target price of Rs 4,210.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)