Buy InterGlobe Aviation, target price Rs 2175: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on InterGlobe Aviation with a target price of Rs 2175.
The current market price of InterGlobe Aviation Ltd. is Rs 2081. Time period given by analyst is Intra Day when InterGlobe Aviation Ltd. price can reach defined target.

InterGlobe Aviation Ltd., incorporated in the year 2004, is a Large Cap company (having a market cap of Rs 80167.66 Crore) operating in Airlines sector.


InterGlobe Aviation Ltd. key Products/Revenue Segments include Income (Airlines), Other Operating Revenue and Traded Goods for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 13018.81 Crore, up 58.62 % from last quarter Total Income of Rs 8207.46 Crore and up 310.66 % from last year same quarter Total Income of Rs 3170.25 Crore. Company reported net profit after tax of Rs -1064.26 Crore in latest quarter.


Investment Rationale
Price breakout on weekly frame and surpassed its 50 WEMA with increase in volumes.

Promoter/FII Holdings
Promoters held 74.77 per cent stake in the company as of 31-Mar-2022, while FIIs owned 19.17 per cent, DIIs 4.01 per cent.