New Delhi, April 27 -- Shares of InterGlobe Aviation recovered over 1% from early losses on Monday, 27 April, even as UBS downgraded the stock to "neutral" from "buy". The brokerage also cut its target price for the stock to Rs.4,940 from Rs.5,480, citing rising headwinds for the aviation sector.

IndiGo started the day on a flat note but in the red. However, it later recovered 1.4% to its day's high of Rs.4571.

According to a CNBC-TV18 report, UBS flagged rising volatility in the airline sector as jet fuel prices nearly doubled amid the US-Iran conflict. The brokerage also pointed to early demand fatigue, with passenger traffic weakening due to fare hikes, and trimmed growth assumptions. While IndiGo remains better positioned than peers...