IndiGo set for best month in nearly six years as fuel prices slide

Interglobe Aviation

30/06/2026 09:59

** India's low-cost carrier IndiGo's INGL.NS shares rise 22.2% in June, marking third straight monthly gain
** Stock on course for best month since August 2020
** Oil prices set to end June down by about 21% from last month's closing, on track for their ‌biggest quarterly loss since COVID-19 pandemic  
** Jet fuel is typically largest expense for airlines and sharp price swings can erode profitability 
** Morgan Stanley says easing fuel and forex headwinds support INGL, but stock still underprices recovery
** Shares were up 1.1% to 5,376.1 rupees in afternoon trading
** INGL trades at forward 12-months PE of 40.1 vs industry median of 18.8 
** Twenty of 24 brokerages rate stock "buy" or higher; their median PT is 5,317.5
** YTD, stock up 6.4% vs 8.4% decline in Nifty 50 Index .NSEI

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))