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IndiGo's runaway rally worries analysts; Citi downgrades stock to 'sell'

In the past six months, IndiGo has outperformed the Sensex index and has rallied 78.4 per cent on the BSE till Wednesday. In comparison, the S&P BSE Sensex is up 42.8 per cent, BSE data show

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According to Citi, the stock's outperformance is reaching its zenith and may not sustain going ahead

4 min read Last Updated : Nov 27 2020 | 6:40 AM IST

Shares of InterGlobe Aviation (IndiGo airline) slipped up to 4.2 per cent, to quote at Rs 1,522.7, on the BSE on Thursday after global brokerage firm Citi downgraded the stock to ‘Sell’ from ‘Neutral’. The firm, however, revised target price upwards to Rs 1,400 from Rs 1,300.

The stock eventually settled 2.9 per cent lower at Rs 1,544 on the BSE, as against a per cent's gain in the S&P BSE Sensex. So far in November, stock of the low-cost airline has zoomed 21.5 per cent on the BSE compared to an 11-per cent rally in the benchmark Sensex index.

Topics : IndiGo Aviation stocks Citi Markets

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