•Shares of InterGlobe Aviation Ltd., parent company of IndiGo, dropped 8% on Monday, March 9, due to rising crude oil prices.
•Kotak Institutional Equities upgraded IndiGo to a 'Buy' rating with a price target of ₹5,500, implying a potential 25% upside.
•Kotak highlighted rising losses of competing airlines and views the sector as a play on consumer spending, absorbing inflation.
•Crisil removed its 'Rating Watch' on IndiGo's bank facilities, reaffirming them at Crisil AA-/Crisil A1+ with a Positive outlook, citing swift operational recovery.
•Around 18% of IndiGo's available seat kilometres are impacted by the Middle East conflict, but the effect is not expected to be major unless prolonged.
