Shares of InterGlobe Aviation Limited hit fresh record high today (April 10) as it traded 5 per cent higher at ₹3,801 apiece, extending gains for fourth day in a row. With this, the carrier became world’s third largest airline in terms of market capitalisation. The stock has seen 22 per cent rally in the last one month which took InterGlobe Aviation, operator of IndiGo airline in India, to over ₹1,46,000 crore ($17.5 billion) in total value, Bloomberg reported.
The stock was trading at ₹3,798, up 4.5 per cent from the previous close on the NSE. The share price is up 99.7 per cent in the last 1 year.
In December 2023, IndiGo surpassed United Airlines to become the sixth largest airline in the world while Delta Air and Ryanair Holdings were the top two airlines with $30.4 billion and $26.5 billion m-cap.
UBS retained its “buy” call on the stock in late March and said, “We maintain our positive stance on IndiGo considering strong growth prospects of the Indian aviation industry, share gains in international travel, efficient cost structure and operational excellence.”
Meanwhile, ICICI Securities held a bullish outlook on InterGlobe Aviation as the brokerage cited favorable demand-supply dynamics and the company’s robust position.
