Add InterGlobe Aviation, target price Rs 1800: ICICI Securities

ICICI Securities has add call on with a target price of Rs 1800. The current market price of InterGlobe Aviation Ltd. is Rs 1653.1. Time period given by analyst is one year when InterGlobe Aviation Ltd. price can reach defined target.

InterGlobe Aviation Ltd., incorporated in the year 2004, is a Large Cap company (having a market cap of Rs 63517.85 Crore) operating in Airlines sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 3170.25 Crore, down -50.17 % from last quarter Total Income of Rs 6361.80 Crore and up 177.16 % from last year same quarter Total Income of Rs 1143.82 Crore. Company reported net profit after tax of Rs -3174.18 Crore in latest quarter.

Investment Rationale
Liquidity management and traffic recovery remain the two most important earnings drivers for InterGlobe Aviation (IndiGo) going forward. While the company has a plan for raising funds, and gradual domestic recovery is indeed in sight, international recovery remains the bigger challenge.

Promoter/FII Holdings
Promoters held 74.8 per cent stake in the company as of June 30, 2021, while FIIs held 19.5 per cent, DIIs 3.6 per cent and public and others 2.1 per cent.