Buy Interglobe Aviation, target price Rs 3775: IIFL Securities

IIFL Securities issued a "buy" recommendation for Interglobe Aviation on April 22. The current market price for the stock is Rs 3705.5. IIFL Securities has set a target price of Rs 3775 for the stock, indicating a potential upside of around 2%. The recommendation is based on the company's strong financial performance and its position as a leading player in the Indian aviation sector.

About Interglobe Aviation:

Interglobe Aviation Limited, operating as IndiGo, is a leading Indian low-cost airline headquartered in Gurgaon, Haryana. It is the largest airline in India by passengers carried and fleet size. IndiGo operates a fleet of Airbus A320 and A321 aircraft connecting 76 domestic and 26 international destinations. The company has a market capitalization of approximately Rs. 1.2 lakh crore (US$ 16.5 billion) and is listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

52 Week Price Trend:

Interglobe Aviation, the parent company of IndiGo Airlines, has seen significant gains in its stock price in recent weeks. As of March 10, 2023, its CMP stands at Rs 3705.5, a notable rise from its 52-week high of Rs 3301.4 and a substantial surge compared to its 52-week low of Rs 1810.45. This positive price action reflects the improving outlook for the aviation industry as travel demand rebounds post-pandemic. Investors are optimistic about IndiGo's growth prospects as it expands its fleet and network, capitalizing on the increasing demand for air travel in India and beyond.

Stratzy's MOST Analysis:

INDIGO has been assigned a BBB rating by Stratzy's MOST framework, indicating medium fundamental risks. This assessment is based on the company's management, outlook, safety, and trend. The framework considers factors such as the company's financial performance, industry position, and regulatory environment. The BBB rating suggests that INDIGO has a stable financial position, a positive outlook, and a relatively safe business model. However, the company may face some challenges in the future, which investors should consider when evaluating the stock.

Fundamental and Technical information provided in this blog were last updated on 20 Apr, 2024

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