Analyst Corner: Downgrade IndiGo to ‘sell’ with revised TP of Rs 1,650
Analyst Corner: Downgrade IndiGo to ‘sell’ with revised TP of Rs 1,650
Our spreads include depreciation and interest cost. Entry of new players, delay in recovery of international travel, longer absence of high yielding corporate travel and low cash balance do not provide any rationale for increase in multiples.