In addition, each of the companies continued to show lower employee attrition and falling headcount which reflects the muted demand outlook in the short term despite fresh deal wins.
Jefferies views IndiGo as unique and strong franchise, raises target price to Rs 5,260
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