{"id":103741,"date":"2023-06-02T18:01:03","date_gmt":"2023-06-02T12:31:03","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=103741"},"modified":"2023-06-02T18:51:54","modified_gmt":"2023-06-02T13:21:54","slug":"airline-stock-to-buy-now-for-an-upside-of-more-than-25-icici-securities","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/airline-stock-to-buy-now-for-an-upside-of-more-than-25-icici-securities\/","title":{"rendered":"Airline stock to buy now for an upside of more than 25%; ICICI Securities"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1148637085\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>InterGlobe Aviation Limited(doing business as IndiGo Airlines) is engaged in aviation management, hotel development, and management services. The company also works in passenger and cargo management and also offers travel distribution services, such as itineraries and domestic.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2672709380\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>On Friday, the company&#8217;s stock closed at Rs 2,385.75 a share, with a market capitalization of Rs 91,981 crores.&nbsp;<\/p><p>The company&#8217;s net profit improved by 154 % in Q4FY23 to Rs 919&nbsp; crore from a loss of&nbsp; Rs 1681 crore in Q4FY22. Furthermore, revenue from operations climbed by 76% to Rs 14,160&nbsp; crore from Rs 8,020 crore in the previous year&#8217;s equivalent period.<\/p><p>On a YoY comparison of the metrics, the revenues significantly improved from&nbsp; Rs 25,930 crores during FY 21-22 to Rs 54,446 crores in FY 22-23. For the same time period, The PAT numbers have shifted upwards, by 104 percent from a loss of&nbsp; Rs 6,161 crores to a loss of&nbsp; Rs 305 crores.<\/p><div class=\"trade-content_5\" id=\"trade-3954075736\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><strong>Having a positive outlook for the company, ICICI Securities gave a \u2018Buy\u2019 tag to the company with a target price of Rs 3,000 indicating an upside of 26&nbsp; percent as compared to the current price levels.&nbsp;<\/strong><\/p><p>The rationale behind giving such a recommendation is<\/p><ul class=\"wp-block-list\"><li>As of April 23, IndiGo increased its market share to 56.8%. as per the DGCA&#8217;s statistics.<\/li>\n\n<li>IndiGo plans to increase its international ASK share from ~23% in FY23 to 30% over the next two years by adding additional international destinations.<\/li>\n\n<li>IndiGo resolved the GTF engine issue outstandingly by shifting from P&amp;W to CFM in FY21.<\/li>\n\n<li>The company is able to maintain a Strong Domestic passenger daily trend count of more than 420k.&nbsp;<\/li>\n\n<li>IndiGo&#8217;s financials have been further reinforced by an increase in free cash, which now stands at Rs 122 billion vs Rs 106 billion as of December 22 and a low of Rs 77.6bn as of Mar 22.<\/li><\/ul><p>According to the latest shareholding pattern, promoters of the company hold a 67.86 percent stake, and Foreign institutional investors (FIIs) hold a 19.43&nbsp; percent stake in the company for FY 22-23.<\/p><p><strong>Written by\u00a0 Omkar C<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-628204878\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>InterGlobe Aviation Limited(doing business as IndiGo Airlines) is engaged in aviation management, hotel development, and management services. The company also works in passenger and cargo management and also offers travel distribution services, such as itineraries and domestic. On Friday, the company&#8217;s stock closed at Rs 2,385.75 a share, with a market capitalization of Rs 91,981 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":16190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-103741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Airline stock to buy now for an upside of more than 25%; ICICI Securities - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"InterGlobe Aviation Limited(doing business as IndiGo Airlines) is engaged in aviation management, hotel development, and management services. 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