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IndiGo Stock Surges 5% on Easing Crude Prices; Jefferies Predicts 48% Upside
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IndiGo Shares Soar 5% as Crude Oil Prices Drop; Jefferies Predicts 48% Upside
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CNBC TV18
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24-03-2026, 13:17
IndiGo Shares Soar 5% as Crude Oil Prices Drop; Jefferies Predicts 48% Upside
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IndiGo shares jumped nearly 5% on Monday, ending a three-session losing streak.
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The surge is attributed to declining crude oil prices, now below $100 per barrel, easing fuel cost concerns for airlines.
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Aloke Singh, former MD & CEO of Air India Express, has been appointed as IndiGo's new Chief Strategy Officer.
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Jefferies maintains a 'Buy' rating with a price target of ₹6,140, forecasting a 48% upside.
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Despite a slight year-on-year dip in scheduled departures, IndiGo's domestic departures show a 6-7% increase over last year's actuals.
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