Buy InterGlobe Aviation, target price Rs 2640 : Religare Broking

Religare Broking has buy call on InterGlobe Aviation with a target price of Rs 2640. The current market price of InterGlobe Aviation is Rs 2457.7. Religare Broking recommended to keep stop loss at Rs 2350.

InterGlobe Aviation, incorporated in the year 2004, is a Large Cap company (having a market cap of Rs 94825.31 Crore) operating in Airlines sector.

InterGlobe Aviation key Products/Revenue Segments include Income (Airlines) and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 17160.87 Crore, up 17.54 % from last quarter Total Income of Rs 14600.12 Crore and up 31.82 % from last year same quarter Total Income of Rs 13018.81 Crore. Company has reported net profit after tax of Rs 3090.60 Crore in latest quarter.

Investment Rationale
Taking a breather around 2400. Chart pattern indicates a strong rebound ahead.

Promoter/FII Holdings
Promoters held 67.77 per cent stake in the company as of 30-Jun-2023, while FIIs owned 19.76 per cent, DIIs 10.37 per cent.