InterGlobe flies into Rs a1-lakh-cr mcap club
image for illustrative purpose
New Delhi The market valuation of InterGlobe Aviation, the parent of IndiGo, reached Rs1 lakh crore mark on Wednesday and became the first airline to achieve this milestone.
On Wednesday, the stock rallied 3.55 per cent to settle at Rs2,619.85 apiece on the BSE. In intra-day trade, shares of the company jumped 4.12 per cent to hit its 52-week high of Rs2,634.25. On the NSE, shares of the company climbed 3.61 per cent to end at Rs2,621.10 per piece. Helped by a rally in the stock price, the company’s market valuation surged to Rs1,01,007.56 crore on the BSE. The stock has been rallying since Tuesday this week. So far this year, the airline stock has rallied 30.53 per cent on the BSE, against a 5 per cent jump in the benchmark Sensex.
An overall optimistic trend in the equity market also helped the rally in the stock. The 30-share BSE Sensex surged 499.39 points or 0.79 per cent to settle at its lifetime closing high of 63,915.42 on Wednesday. During the day, the index jumped 634.41 points or 1 per cent to hit its all-time intra-day peak of 64,050.44. The NSE Nifty climbed 154.70 points or 0.82 per cent to end at a record high of 18,972.10 in the previous trade. During the day, it zoomed 193.85 points or 1 per cent to reach its lifetime intra-day high of 19,011.25.
Spreading Wings
l IndiGo placed a huge order to buy 500 planes from Airbus
l Airline on an ambitious long-term growth path
l Latest IndiGo’s order the largest-ever aircraft order with Airbus
l IndiGo is India’s largest domestic carrier
l Expanding its intl operations as well
l Its domestic market share is 61.4% in May
