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.
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.
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.
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By Shubham Kumar Goodreturns source: goodreturns.in Dailyhunt