JEFFERIES ON INDIGO ; BUY | TP ₹5,650 (EARLIER ₹5,840)

• Jefferies maintains Buy rating on IndiGo and cuts target price to ₹5,650 from ₹5,840. • IndiGo guides for low-single-digit Available Seat Kilometre (ASK) growth in FY27 and mid-teens capacity expansion in FY28. • Expects over 25% growth in Passenger Revenue per Available Seat Kilometre (PRASK) in Q3, supported by disciplined capacity deployment. • Cuts FY27 EPS estimates by 9%, reflecting pressure on earnings expectations. • Elevated aviation fuel costs remain a key risk to profitability and earnings growth.

INTERGLOBE AVIATION LTD

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