Nuvama keeps INR 5,583.00 target for InterGlobe stock

InterGlobe Aviation stock is covered by Nuvama with a Buy rating and an INR 5,583.00 target, according to Business Today on September 30, 2026. The call puts the airline's international expansion and yield recovery against a difficult fuel-cost backdrop.

Target rests on operating recovery

Nuvama expects EBITDAR for the September quarter of fiscal 2027 to rise 72.00 percent year over year. Its model also assumes a 28.00 percent increase in yield and a 54.00 percent decline in foreign-exchange costs, while fuel cost per available seat kilometer is projected to rise 26.00 percent in October 2026 over the brokerage's second-quarter estimate.

The comparison is important because InterGlobe entered the period with stronger revenue but weaker earnings. The brokerage expects available seat kilometers to rise 1.00 percent year over year, with international flights growing faster than domestic capacity.

Revenue growth meets a loss

InterGlobe Aviation reported revenue from operations of INR 245.84 billion in the first quarter of fiscal 2027, up 19.90 percent from INR 204.96 billion in the first quarter of fiscal 2026, according to LiveMint on September 29, 2026.

Consolidated net income was negative INR 2.38 billion in that period, compared with positive net income of INR 21.76 billion in the year-earlier quarter. Fuel expenses rose 86.00 percent year over year to INR 108.30 billion, showing why the revenue increase did not translate into profit.

Stock stays below yearly high

InterGlobe Aviation was last quoted at INR 4,929.90 on the NSE on October 1, 2026 at 3:15 p.m. IST. The finance snapshot showed a market capitalization of INR 1.9 trillion, a 52-week range of INR 3,895.20 to INR 5,970.00, and a 1.09 percent decline versus the prior close of INR 4,984.00.

The next estimated earnings date is October 23, 2026, according to StockAnalysis. That date places the next major operating test after the fuel-cost assumptions embedded in Nuvama's September-quarter forecast.