India's Adani Enterprises drops; reports say conglomerate weighing airline launch
BUZZ-India's Adani Enterprises drops; reports say conglomerate weighing airline launch ** India's Adani Enterprises DEL.NS drops 3.3% to 3,044.5 rupees; set for third straight session of losses
** Billionaire Gautam Adani's group considering launching a new airline, a move that could potentially reshape competition in a market dominated by IndiGo INGL.NS and Air India, Reuters reports, citing two sources
** Adani Group operates eight airports in India, including two in Mumbai
** "Airlines remain one of the hardest businesses to operate profitably," analysts led by Jefferies' Prateek Kumar says in a note
** "Thin margins, volatile fuel prices, high fixed costs (aircraft, engines, manpower) and intense competition leave little room for error," the brokerage adds
** YTD, ADEL up 36%, while benchmark Nifty 50 index .NSEI down 8.7%
(Reporting by Vivek Kumar M)
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