Hem Securities has given Accumulate recommendation for Interglobe Aviation with a target price of Rs. 1958 in its research report issued on Oct 07, 2022
Hem Securities report on Interglobe Aviation
Due to a seasonally good quarter and retaliation travel, load factor increased to 79.6% from 76.5% sequentially. Reduced base and robust ticket prices, revenue increased by 327% year over year. International travel has stabilized and returned to its pre-recession levels, which were expanding more quickly.
We value the company at 88x FY23 EPS to arrive at the target of 1958.
At 14:41 hrs Interglobe Aviation was quoting at Rs 1,774.40, down Rs 18.55, or 1.03 percent.
It has touched an intraday high of Rs 1,783.85 and an intraday low of Rs 1,736.25.
It was trading with volumes of 10,357 shares, compared to its thirty day average of 103,428 shares, a decrease of -89.99 percent.
In the previous trading session, the share closed down 1.39 percent or Rs 25.30 at Rs 1,792.95.
The share touched its 52-week high Rs 2,379.00 and 52-week low Rs 1,513.30 on 16 November, 2021 and 20 June, 2022, respectively.
Currently, it is trading 25.41 percent below its 52-week high and 17.25 percent above its 52-week low.
Market capitalisation stands at Rs 68,391.51 crore.