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IndiGo becomes world's 3rd largest airline by market capitalisation after stocks hit new high
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IndiGo becomes world's 3rd largest airline by market capitalisation after stocks hit new high

| @indiablooms | 11 Apr 2024, 12:50 am

Mumbai: IndiGo Airlines became the world's third largest airline on Wednesday in terms of market capitalisation as stocks of its operator InterGlobe Aviation Limited climbed to a new record high on April 10 by trading 5 percent higher at Rs 3,801 apiece during afternoon trade, thus bolstering their gains for the fourth day in a row, media reports said.

Shares of InterGlobe Aviation witnessed a 22 percent rally over the past one month, taking shares of the operator of IndiGo airline in India to over Rs 1,46,000 crore ($17.5 billion) in total value, Bloomberg data showed.

IndiGo had crossed United Airlines in December 2023 to hit the position of sixth-largest airline globally.

According to data, Delta Air and Ryanair Holdings occupy the first two positions with $30.4 billion and $26.5 billion m-cap, respectively.

InterGlobe Aviation was trading at Rs 3,798 as of 3:04 pm, up 4.5 percent from the previous close on the NSE.

The share price has jumped a massive 99.7 percent in the last one year.

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