InterGlobe Aviation's shares rose 5% to Rs 3,801 in afternoon trading on Wednesday, setting a new record. This was the fourth consecutive day of gains for the company's stock.
InterGlobe's share value increased, making it the world's third-largest airline by market capitalization. According to a credible source, InterGlobe Aviation's stock has risen by 22% in the last month, hitting a market value of more than Rs 1,46,000 crore ($17.5 billion).
In December 2023, the firm surpassed United Airlines to become the world's sixth largest airline. According to data, Delta Air and Ryanair Holdings are the top two airlines, with market capitalisations of $30.4 billion and $26.5 billion, respectively.
Following the airline's analyst meeting in March of this year, several brokerages issued optimistic growth estimates for Indigo. "We maintain our positive stance on IndiGo, considering the strong growth prospects of the Indian aviation industry, share gains in international travel, efficient cost structure, and operational excellence," stated global brokerage company UBS, which maintained its buy call on the stock.
ICICI Securities is bullish on InterGlobe Aviation, noting favorable demand-supply dynamics and the company's strong position. The brokerage stated that, after fulfilling its FY24 forecasts, the airline expects early double-digit growth in capacity and passengers in FY25.
The stock was trading at Rs 3,798, up 4.5% from its previous close on the NSE. The share price has risen by 99.7 percent in the last year.
