Expert views on Indigo, reduced price targets
Expert views on Indigo:
Some of the brokerage companies maintained bullish on IndiGo’s parent, InterGlobe Aviation because it impressed the street with the uncertain COVID times resulting in a better than expected quarter of March.
Meanwhile, today (June 4th) the stock trading with the bullish trend. It trades with a gain of 36.55 points reached 1,059.75 INR with 3.57% up in NSE. Whereas in BSE, it trading with a gain of 33.55 points reached 1,059.10 INR with 3.27% up.
In the meantime, the brokerage firms reduced the stock price target by 5-17%. The brokerage Motilal Oswal said that “in the long-term, it can witness good growth, so the brokerage firm maintained a neutral view, and t the same time they reduced target price 17%.
Moreover, on June 2nd, the company announced a net loss of Rs 870.8 crore, in the same period last fiscal year, they reported Rs 589.6 crore.
The other brokerage Credit Suisse stated that the firm beats its forecasts than expected. The brokerage cuts its forecasts by 33-56%, and target price reduced by 13% to 1,300 and maintained profitability by FY22.
Other brokerage firm, Ambit reduced forecasts bu current fiscal year by 50%, but maintained FY22 forecasts unchanged.
Stock Market June 4th Update Sensex and Nifty
Stock Market June 4th: On the fourth day of the week, the stock market trading with the bearish trend. The Sensex trading with a loss of 216.87 points reached 33,892.67 level with 0.64% down. Whereas, Nifty trading with a gain of 69.20 points reached 9,992.35 level with 0.69% down.
In the border market, the S&P BSE Midcap trading with a loss of 50.01 points reached 12,290.64 level with 0.41% down. Whereas, S&P BSE SmallCap trading with a loss of 45.03 points reached 11,525.62 with 0.39% down. At the same time, Nifty bank trading with a loss of 390.40 points reached 20,550.30 level with 1.86% down.
Top Gaining Stocks: Tech Mahindra, Vedanta, Reliance Industries, Bharat Petroleum Corp, and Sun Pharmaceutical Industries Limited.
Top Losing Stocks: Bajaj Finance, Indusind Bank, Housing Development Finance Corp, Asian Paints, and Titan Company Ltd.