Kotak Securities Picks This Large Cap Airlines Stock, Recommends Buy For Robust Returns
Kotak Securities has a " buy" call on InterGlobe Aviation Ltd.( INDIGO) stock with a target price of Rs 2,400/ share.
According to the brokerage's target price, the stock can rise 18% from its current level.
It is a large cap Airline Sector company having a market capitalisation of Rs 77,765.59 crore.
Indigo is India's largest passenger airline operating as a low- cost carrier.
The current market price ( CMP) of the stock is Rs 2,042/ share on NSE.
Its 52- week low level is Rs 1,511.75/ share and its 52- week high is Rs 2,282.10/ share, respectively.
In the past 1 month, the stock fell, giving 5 .52 % negative return. Whereas in the past 3 months, it surged 10 .95%. It moved up by 0 .9%.
In the past 3 and 5 years, it has given 50 .67 % and 67 .23 % positive returns, respectively.
Rationale
Tata Group may impact INDIGO's market share in top metro routes, not pricing.
We note upside risks to our unchanged FV from higher- than- expected yields
Company Updates
Indigo's overall domestic market share will slide down closer to 50% from the current 55% + level.
Disclaimer
The stock has been picked from the brokerage report of Kotak Securities.
Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article.
Goodreturns.in advises users to consult with certified experts before making any investment decision.
By Shubham Kumar Goodreturns source: goodreturns.in Dailyhunt