Emkay Global sees up to 26% upside for IndiGo, expects operations to normalise

Emkay Global maintains a BUY on IndiGo-parent InterGlobe Aviation with a target of Rs 6,300, citing a potential 28.6% upside. The brokerage notes that recent operational disruptions caused over 4,200 cancellations, but expects normalization from December 10. Crew shortages, regulatory reviews, and elevated costs may weigh on near-term results, yet operational recovery could support a rebound in coming quarters.