Shares of InterGlobe Aviation Limited, the parent company of the IndiGo airline, soared to a fresh record high today, reaching Rs 3,801 apiece and marking a 5 percent increase. This marks the fourth consecutive day of gains for the carrier. With this surge, InterGlobe Aviation has become the world’s third-largest airline in terms of market capitalization.
The stock has witnessed a remarkable rally of 22 percent in the past month alone, propelling the total value of InterGlobe Aviation, the operator of IndiGo airline in India, to over Rs 1,46,000 crore ($17.5 billion), as reported by Bloomberg.
On the National Stock Exchange (NSE), the stock was trading at Rs 3,798, reflecting a 4.5 percent increase from the previous close. Over the past year, the share price has surged by an impressive 99.7 percent.
In December 2023, IndiGo surpassed United Airlines to claim the sixth position among the world’s largest airlines. At that time, Delta Air and Ryanair Holdings held the top two spots with market capitalizations of $30.4 billion and $26.5 billion, respectively.
UBS reaffirmed its “buy” recommendation on the IndiGo stock in late March, citing strong growth prospects for the Indian aviation industry, expanding market share in international travel, efficient cost structure, and operational excellence.
Similarly, ICICI Securities expressed a bullish outlook on InterGlobe Aviation, highlighting favorable demand-supply dynamics and the company’s robust position in the market.
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