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Shares of InterGlobe Aviation hit near 19-month high on record profit.
The stock jumped as much as 3.1 per cent to Rs 1,330.80, its highest since January 4, 2016.
The owner of IndiGo airlines had reported a record quarterly profit on Monday powered by growth in passenger revenue.
IndiGo has cut its FY18 capacity growth outlook to 20 per cent inclusive of ATRs as it faces issues on A320 NEOs - Morgan Stanley analysts say in a note.
Morgan Stanley has raised the price target on the stock to Rs 1,213 from Rs 1,035 and has rated the stock as 'equal-weight'.
It expects yields to improve as lower capacity growth could help support yields in an environment in which industry growth is moderating at the margin, says Morgan Stanley.
Up to Monday's close, the stock has gained more than 57 per cent this year.
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