Jefferies views IndiGo as unique and strong franchise, raises target price to Rs 5,260

January 9, 2025

The IndiGo stock has underperformed following a significant miss in the company’s 2Q results, driven by higher costs impacting profitability. However, Jefferies expects cost normalization in the future, viewing the factors behind the higher costs in 2Q as temporary. The brokerage anticipates a return to more typical cost levels, which could improve the company’s performance moving forward.

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Sterlite Technologies shares rise 5% after subsidiary bags $1.1 billion hyperscaler AI contract

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