te Kotak Institutional Equities upbeat on IndiGo, sees Rs 400 per share gain | Zee Business

Kotak Institutional Equities upbeat on IndiGo, sees Rs 400 per share gain

IndiGo Share Price NSE: The brokerage firm said that a recent "management meeting led us to recommend a buy on the extent of near-term improvement in profitability".

Kotak Institutional Equities upbeat on IndiGo, sees Rs 400 per share gain
IndiGo Share Price NSE: Check latest update. Pic: Reuters

IndiGo Share Price NSE: Dometic brokerage firm Kotak Institutional Equities has tagged a buy call on InterGlobe Aviation Limited, the parent company of airline IndiGo. It said that the company's market share risk will impact financials to a lesser extent.

The brokerage firm said that a recent "management meeting led us to recommend a buy on the extent of near-term improvement in profitability". It said that IndiGo share price could achieve Rs 2400.

On Wednesday, shares of IndiGo traded positive amid a range-bound market, tracking mixed trends in global markets and foreign fund outflows.

TRENDING NOW

Zee Business Panelist Rakesh Bansal has recommended a buy on the counter. He said that those already having IndiGo shares in their portfolio should hold as a smart recovery is anticipated given the chart structure. Technically, he said, IndiGo could touch Rs 2250-2300 levels.

Also, read- Lumpsum Investment: What it is and how it works - Key things to know

InterGlobe Aviation Share Price History

Shares of IndiGo have delivered a handsome return of 24 per cent to its shareholders in the last 6 months. At today's price, the company has a market cap of over Rs 77,000 crore. The stock's 52-week range is Rs 2,282.10-Rs 1,511.75.

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Written By: Shivani Tiwari
Edited By: Abhinav Ranjan
Updated: Wed, Dec 28, 2022
12:18 pm
New Delhi, ZeeBiz WebDesk
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