IndiGo's promoter company InterGlobe Aviation valued at Rs 1 lakh cr
New Delhi: InterGlobe Aviation, the parent company of IndiGo, achieved a significant milestone by becoming the first airline in India to reach a market valuation of Rs 1 lakh crore, media reports said.
On Wednesday, the company's stock experienced a notable rally, rising by 3.55 percent to settle at Rs 2,619.85 per share on the BSE.
During intra-day trading, the shares surged by 4.12 percent, reaching a 52-week high of Rs 2,634.25.
Similarly, on the NSE, the company's shares climbed by 3.61 percent, closing at Rs 2,621.10 per share.
Boosted by a surge in its stock price, the market valuation of the company soared to Rs 1,01,007.56 crore on the BSE.
The stock has been experiencing a rally since Tuesday of this week.
In comparison to the benchmark Sensex, which saw a 5 percent increase, the airline stock has demonstrated a substantial rally of 30.53 percent on the BSE year-to-date.
The overall positive trend in the equity market has also contributed to the upward momentum of the company's stock.
The 30-share BSE Sensex surged 499.39 points or 0.79 percent to settle at its lifetime closing high of 63,915.42 on Wednesday. During the day, the index jumped 634.41 points or 1 percent to hit its all-time intra-day peak of 64,050.44.
The NSE Nifty climbed 154.70 points or 0.82 percent to end at a record high of 18,972.10 in the previous trade.
During the day, it zoomed 193.85 points or 1 percent to reach its lifetime intra-day high of 19,011.25.
On Monday of last week, IndiGo made a significant announcement regarding its plans for long-term growth.
The airline placed a firm order to purchase 500 narrow-body planes from Airbus, marking the largest-ever aircraft order by any airline with Airbus.
As the largest domestic carrier in the country, IndiGo is not only focused on expanding its domestic operations but also aims to enhance its international presence.
In May, the airline held a dominant domestic market share of 61.4 percent, highlighting its strong position in the industry.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
