IndiGo shares drop 5% as Motilal Oswal cuts target price on higher fuel costs, other headwinds
Shares of IndiGo parent InterGlobe Aviation fell nearly 5% on Friday as elevated oil prices and Middle East tensions pressured aviation stocks. Brokerages cut target prices citing higher fuel costs, rupee weakness and disrupted international routes. IndiGo also received a ₹42.92-crore GST demand notice, which the airline plans to contest.
Shares of IndiGo parent InterGlobe Aviation fell nearly 5% on Friday as elevated oil prices and Middle East tensions pressured aviation stocks. Brokerages cut target prices citing higher fuel costs, rupee weakness and disrupted international routes. IndiGo also received a ₹42.92-crore GST demand notice, which the airline plans to contest.
