Prabhudas Lilladher has increased IndiGo’s FY22/FY23 earnings by 7.5 percent/7.1 percent and assigned accumulate rating given sustained scale-up of operations, broad-based recovery in domestic demand aided by non-metro cities and improving load factors on the back of rising consumer confidence.
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// else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Interglobe Aviation (IndiGo) share price was up over 2 percent in the morning session on March 3 after Morgan Stanley maintained a buy call on the stock.
The global research firm has retained a buy rating on the stock with a target of Rs 1,935 per share. It is of the view that the company is well placed to weather the current storm adding that the airline should gain share over FY20-23, according to a CNBC-TV18 report.
The stock was trading at Rs 1,727.30, up Rs 35.40, or 2.09 percent at 09:20 hours. It has touched an intraday high of Rs 1,730 and an intraday low of Rs 1,700.
“IndiGo is taking additional cost-cutting measures and shifting fleet to fuel-efficient NEOs. It has average fleet age of 4 years, making it one of the youngest fleets,” Morgan Stanley added.
Domestic research firm Geojit has a buy on the stock with a target of Rs 1,804. “Given the strong balance sheet position compared to its peers, focus on route optimisation & cost rationalisation and likely market share gains, we remain constructive on the stock in the long term,” it said.
Prabhudas Lilladher has increased IndiGo’s FY22/FY23 earnings by 7.5 percent/ 7.1 percent and assigned accumulate rating given sustained scale-up of operations, broad-based recovery in domestic demand aided by non-metro cities and improving load factors on the back of rising consumer confidence.
Motilal Oswal on the other hand feels that despite the current state of uncertainty in the industry, IndiGo’s stock performance over the past one year is up 10 percent. “We value the company at 16x (33 percent premium to global peers) FY23E EPS to arrive at a target price of Rs 1,525. There is no significant upside to the current market price, hence, we maintain a neutral rating,” it said.
Airline companies including IndiGo got some relief after the Directorate General of Civil Aviation (DGCA) allowed airlines to charge 10-30 percent more for domestic flights. It has increased the minimum fare on all seven sectors by 10-12 percent and raised the limit on maximum fare by around 30 percent. The seven sectors have been classified on the basis of the duration of the flight
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