Indigo in focus as global brokerages remain upbeat on companys growth
Interglobe Aviation shares are in focus as the low crude price if sustains will be positive for the company.
Shares of Interglobe Aviation running the Indigo Airlines are in focus as global brokerages continue with their buy rating on the stock. In the previous day's trade, the stock despite weak overall market momentum ended with a positive bias at Rs 4,813.75.
The company has thrown a positive surprise in Q4 which has led the stock to touch its all-time high of Rs 4,944.6 on August 28.
Global brokerage Jefferies has continued with its buy rating on the stock for a target of Rs 5,225, implying gains of 9 per cent from the last close. The brokerage said that the supply constraints keeping aircraft demand-supply balanced. The contracting ops of select peers & superior cost curve for IndiGo, added the brokerage.
Furthermore, the brokerage noted that the slipping crude if sustains may spring positive surprise on profit estimates.
Any rub off of slowdown in global travel, ex-fuel cost headwinds and increasing value of stake sale by promoter will be sentimentally negative for the firm.
Also, HSBC has maintained its bullish outlook on the stock with a buy rating at a share price of Rs 5,165.
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