Analysts see up to 34% upside in IndiGo stock despite Covid-19 headwind

Analysts believe IndiGo is well-placed to survive this tough phase

InterGlobe Aviation, the parent firm of IndiGo airlines, crash landed on the bourses on Wednesday, a day after the airline posted its highest ever quarterly loss of Rs 3,147.17 crore for April-June quarter of FY22 (Q1FY22).

The company's shares dropped 4.6 per cent to Rs 1,627 on the BSE in the intra-day deals as the airline's operations faced a severe blow due to the second wave of Covid-19. Yet, analysts remain largely bullish on the stock and see up to 34 per cent upside over the next one year even though near-term headwinds may continue to weigh.

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