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    IndiGo: Demand picking up but elevated valuation makes us wait

    We advise investors to wait for the opening up of complete domestic and international routes before buying IndiGo

    Nitin Agrawal
    October 30, 2020 / 09:16 AM IST
    IndiGo: Demand picking up but elevated valuation makes us wait

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Aviation is one of worst affected sectors due to COVID-19. Carriers have been facing significant financial distress. However, things have started improving post unlocking, and this is clearly visible in IndiGo airlines operator InterGlobe Aviation’s (CMP: Rs1,313; Mcap: Rs 51,250 crore) September-quarter numbers. Airlines have been permitted to operate at 60 percent capacity and demand is expected to remain muted in the months to come as business and international travel have not resumed yet. We advise investors to wait for...

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