Ixigo shares jump over 3% after Jefferies' Chris Wood adds stock in India long only portfolio

Shares of Le Travenues Technology jumped over 3% to hit the day's high of Rs 282 on the NSE after Jefferies' Global Head of Equity Strategy Christopher Wood added the Ixigo operator in its India long only portfolio. The emerging market bull has assigned 4% weight in this portfolio to the online travel company.

In the latest edition of 'Greed & Fear', Wood noted that it was an appropriate time to make some adjustments to the India long-only portfolio. He added two more stocks -- Adani-owned Ambuja Cements and Lemon Tree Hotels, with weights of 4% each.

"These will be paid for by removing the investments in Reliance Industries (RIL) and Axis Bank and by shaving one percentage point each off the investments in ICICI Bank, REC and JSW Energy," the September 18 published Greed & Fear note said.


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Le Travenues, which made its market debut on June 18 last year, is a smallcap stock with a market capitalisation of Rs 10,883 crore on the NSE.

The stock's entry in Wood's portfolio comes on the back of a stellar run over the past year. It has given returns of 88% in the said period, significantly better than the sector. Nifty India Tourism index has given returns of 13% over a 1-year period.

The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 250.6 and Rs 178.9, respectively, according to Trendlyne.

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Ixigo reported a consolidated net profit of Rs 19 crore in the June-ended quarter, 28.5% versus Rs 15 crore in the year-ago period. The company's total revenue in the said quarter stood at Rs 321 crore, recording a year-on-year growth of Rs 74% against Rs 184 crore in Q1FY25.

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