IndiGo parent may replace Hero Moto in Nifty: Nuvama

MUMBAI Nuvama Alternative sees a 'high chance' of InterGlobe Aviation being included in the Nifty on NSE's index rejig. The brokerage said IndiGo's parent company could take the place of Hero MotoCorp.

"We believe the stock should continue to do well and can slowly head towards ₹5,600-5,700," said Abhilash Pagaria, head of alternative and quantitative research, Nuvama Alternative.

InterGlobe shares gained 3.5% to close at ₹4,978 on Wednesday after the company guided for strong fourth-quarter results at its analyst meet.