India's IndiGo drops as US strikes on Iran push oil higher

Interglobe Aviation

08/07/2026 05:01

** Shares of IndiGo INGL.NS fall 2.3% to 5,271.50 rupees
** Stock second-biggest loser on Nifty 50 .NSEI, which is down 0.6%
** Brent crude up 2.6% at $76.1 per barrel, extending a 3% gain from the previous session, after the U.S. military launched a series of strikes against Iran MKTS/GLOB
** Higher oil price are a negative for airlines such as INGL; jet fuel makes up largest expense for carriers
** Avg rating of 24 analysts at "buy"; median PT is 5,357.50 rupees - LSEG-compiled data
** YTD, stock up 4.1% vs a 7.2% decline in Nifty 50


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))