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INDIGO – 25% Rally On Charts

INDIGO – 25% rally on charts

Indigo’s Q3 earning beats estimates despite a rise in fuel cost over the December ended quarter. Indigo has also attained its position as fourth on terms of OTP in previous year.

Profit of the company’s budget airline IndiGo rose 56.4% to Rs 762 crore compared to that in the previous quarter, it said in a stock exchange filing. Profit was aided by higher fares, passenger growth and a stronger rupee.
Passenger growth has risen 14% while the rupee has appreciated 4% YoY. IndiGo’s average fare has risen 10% over the year, according to estimates from more than one brokerage. These tailwinds offset a 12.6% rise in jet fuel prices compared to a year ago. Revenue rose 23.9% to Rs 6,178 crore, also higher than the Rs 6,022 crore estimate, on an yearly basis. EBIDTAR rose 34% to Rs 1,936 crore while EBIDTAR margin expanded to 31.33% from 28.89% YoY.

IndiGo gets its mojo back, is the undisputed OTP king among Indian airlines in 2017
A year after dropping off from the list of top 10 Asia Pacific airlines on the basis of on-time performance (OTP), IndiGo has regained its place in the hallowed group. IndiGo – India’s largest airline by market share – has been ranked ninth in the Punctuality League study published by OAG, an air travel intelligence company based in the UK. In 2015, IndiGo was ranked sixth with an OTP of 84.57%. Jet Airways too featured that year, and was ranked 9th.
The airline found its mojo back later in the year. It fares even better when it comes to mega airlines globally. This is the group of airline with the maximum number of flights. IndiGo had the fourth best OTP after Japan Airlines, All Nippon Airways and Delta Air Lines among top global airlines in 2017.

Indigo long-term chart shows price have sustained above its previous peak levels with consolidation largely. On Momentum front, RSI has now started rising towards 60 levels indicating some bullish action in place. On the other hand, daily price show price forming symmetrical triangle pattern. Post quarterly result announcement, Stock has attempt to break above the said pattern and have sustained higher. Positive news-flow have started coming in with strong set of number will boost sentiments among traders and investors. The overall scenario indicates price action have completed the pattern and can witnessed the rally to be extended ahead. Going further, Stock is expected to move towards 1580-1585 levels on medium term with intermediate hurdle at its previous highs around 1350 levels. Thus, This counter can produce around 25% rally with the current bullish setup.

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