Ixigo shares jump 13% on Q2 profit turnaround, but why does Motilal Oswal retain its Neutral rating?

Ixigo shares surged over 13% after the travel platform reported a Q2 profit of ₹63.42 crore, reversing a year-ago loss.

The results were driven by a partial stake sale in Freshbus and a 159% growth in hotel-booking GTV.

However, Motilal Oswal retained its Neutral rating on the stock, citing concerns about the company's high valuation.