IndiGo operator set to be top India Nifty 50 weekly gainer as oil slide eases cost concerns
BUZZ-IndiGo operator set to be top India Nifty 50 weekly gainer as oil slide eases cost concerns ** Shares of InterGlobe Aviation, operator of India's largest airline IndiGo INGL.NS, gains 4.3% to 5431.5 rupees; up more than 8% so far this week
** INGL set to be top weekly gainer on Nifty 50 .NSEI index, which is up 0.7% for the week
** Brent crude futures fell earlier on Thursday to $72.52 a barrel, levels last seen before the Iran war broke out in late Feb; jet fuel is usually largest expense for airlines
** HSBC says INGL is well positioned in India's aviation market due to its cost competitiveness, while rival Air India faces pressure to cut costs and protect liquidity and has cut flights
** ICICI Securities cites INGL's robust scale of operations and strong balance sheet as strengths
** INGL on avg rated "buy" by 24 analysts; median PT is 5317.5 rupees - LSEG data
** YTD, INGL up 7.2%
(Reporting by Abhirami G in Bengaluru)
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