India's Ixigo rises after JM Financial says firm to grow faster than peers, upgrades rating

Le Travenues Technology

13/01/2026 05:43

** Shares of Le Travenues, now Ixigo, LETR.NS rise nearly 5% to 223.7 rupees

** JM Financial upgrades online travel agent from "reduce" to "buy", cuts PT by 25 rupees to 275 rupees

** Cites 20% correction since Nov'25 end has materially improved risk-reward, but flags 4%-8% earnings cut in FY26-28

** Ixigo positioned for faster growth than peers, driven by cross-selling, superior customer experience, and strong traction for value-added services - brokerage

** Notes temporary earnings and sentiment overhang shall ease over next few quarters

** YTD, LTER down nearly 13%

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))