Nomura starts India's InterGlobe Aviation with 'buy'

Interglobe Aviation

05/10/2026 06:17

** Nomura initiates coverage on India's Interglobe Aviation INGL.NS with "buy", citing long-term growth in country's aviation sector
** Sets price target of 6,000 rupees, implying an upside of 20.4%    
** Says India's aviation market, which has grown 6% to 7% CAGR over the past decade, is poised for further growth due to steady demand
   ** Lower air-traffic penetration, rising incomes, government's accessibility push and rising domestic and international tourism are factors supporting demand, Nomura says 
   ** Says INGL, which operates India's budget IndiGo airlines, has potential to capture the structural demand
   ** Nomura says best-in-class cost structure and order book cement INGL's domestic dominance and fuel international expansion
   ** Stock last up 1% to 4,982.10 rupees
   ** Stock rated "buy" on avg by 24 analysts, with median PT of 5,800 rupees - data compiled by LSEG
   ** Stock down 2% YTD, outperforming 14% drop in Nifty 50 index .NSEI
     

 (Reporting by Anushka Rajvedi in Bengaluru)
 ((mailto: anushka.rajvedi@thomsonreuters.com))