Anand Rathi gives IndiGo buy rating with ₹5,550 target
Business
Thinking about investing? Anand Rathi just gave IndiGo (InterGlobe Aviation) a buy rating with a target price of ₹5,550.
Even though the airline is facing some headwinds, its revenue jumped 25.9% last quarter (thanks to higher ticket prices) and beat expectations.
IndiGo holds ₹39,900 cr free cash
Despite fuel costs shooting up by over 67%, IndiGo is still sitting on a healthy ₹39,900 crore in free cash.
Plus, it has more than 900 new planes on order while rivals are dealing with their own issues.