Q4FY19 Results: IndiGo share price to rise 5% in one month, say stock market experts
The IndiGo shares are quite bullish and in a short-term perspective, the counter can show Rs 1,750 per shares level, say stock market experts.
IndiGo reports PAT (profit after tax) of Rs 5,896 million and EBITDAR of Rs 21,926 million for the quarter ended March 2019. Reported profit after tax of Rs 1,561 million and EBITDAR of Rs 52,245 million for the full fiscal year. These strong quarterly results are going to have a positive impact on the IndiGo stocks at Dalal Street. As per the stock market experts, the stock can give around 5 per cent return in one month.
Giving details about the fundamental impact of the quarterly results on the IndiGo share price Kunal Saragoi, CEO at Equity Rush said, "The fourth quarter results of the aviation company is quite promising and from the stock market perspective, the counter looks poised for around 3-4 per cent upside in short-term perspective from current levels." IndiGo shares closed at Rs 1,666.6 per stock levels on Monday.
Standing in sync with Kunal Saragoi's views on IndiGo shares SEBI registered technical equity analyst Simi Bhaumik told Zee Business online, "The IndiGo shares are quite bullish and in the short-term perspective, the counter can show Rs 1,750 per shares level." Bhaumik said that the IndoGo had surged around 2.77 per cent in the intraday trade on Monday and tomorrow if it witnesses any profit booking, it would be a good buying opportunity for the stock market investors citing, "Since the counter has surged around 2.77 per cent, it may witness some profit booking in early morning session tomorrow making a good buying opportunity for the stock market investors. One can take a buy position in the counter at around Rs 1,635 to Rs 1,640 per stock levels." However, she advised the investors to maintain a strict stop loss below Rs 1,620 levels while taking buy position in the IndiGo stocks.