Team Blitz India
NEW DELHI: Shares of Indigo airline operator InterGlobe Aviation hit a record on April 10, trading 5 per cent higher at Rs 3,801 apiece in afternoon trading. The increase in share value made IndiGo, the world’s third-largest airline by market capitalisation. According to a report inMoneycontrol, InterGlobe Aviation saw its stock surge by 22 per cent in the past month, reaching a total market value of over Rs 1,46,000 crore ($17.5 billion).
Earlier, in December 2023, the company surpassed United Airlines to become the sixth largest airline in the world. Data shows that Delta Air and Ryanair Holdings are the top two airlines with $30.4 billion and $26.5 billion market capitalisation.
In March this year, multiple brokerages rolled out strong growth forecasts for Indigo after an analyst meeting for the airline. “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,” foreign brokerage firm UBS said, as it retained its buy call on the stock.
