IndiGo shares rise 2% after Q2 losses narrow. What are Jefferies and other brokerages saying?

IndiGo shares rose 2% after the airline reported a narrower year-on-year Q2 loss of Rs 1,879 crore. This improvement in losses is seen as a positive sign, but it's worth noting that profitability remains under pressure due to high fuel costs and a weaker rupee. Brokerages like Jefferies and Nuvama have adjusted their expectations, with Jefferies cutting its target price to Rs 5,650 and Nuvama revising its target to Rs 5,435, both maintaining a Buy rating.

Why it matters

IndiGo's Q2 losses have narrowed, and the company's stock price has risen 2%. This could indicate improving profitability and investor sentiment.

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