The market valuation of InterGlobe Aviation, the parent firm of IndiGo, reached Rs 1 lakh crore mark
New Delhi:
The market valuation of InterGlobe Aviation, the parent of IndiGo, reached Rs 1 lakh crore mark on Wednesday and became the first airline to achieve this milestone.
On Wednesday, the stock rallied 3.55 per cent to settle at Rs 2,619.85 apiece on the BSE. In intra-day trade, shares of the company jumped 4.12 per cent to hit its 52-week high of Rs 2,634.25.
On the NSE, shares of the company climbed 3.61 per cent to end at Rs 2,621.10 per piece.
Helped by a rally in the stock price, the company’s market valuation surged to Rs 1,01,007.56 crore on the BSE.
The stock has been rallying since Tuesday this week.
So far this year, the airline stock has rallied 30.53 per cent on the BSE, against a 5 per cent jump in the benchmark Sensex.
An overall optimistic trend in the equity market also helped the rally in the stock.
The 30-share BSE Sensex surged 499.39 points or 0.79 per cent to settle at its lifetime closing high of 63,915.42 on Wednesday. During the day, the index jumped 634.41 points or 1 per cent to hit its all-time intra-day peak of 64,050.44.
The NSE Nifty climbed 154.70 points or 0.82 per cent to end at a record high of 18,972.10 in the previous trade. During the day, it zoomed 193.85 points or 1 per cent to reach its lifetime intra-day high of 19,011.25.
Last week on Monday, IndiGo announced placing a firm order to buy 500 narrow-body planes from Airbus as the airline embarks on an ambitious long-term growth path.
The latest order by IndiGo is the largest-ever aircraft order placed by any airline with Airbus.
IndiGo is the country’s largest domestic carrier and is expanding its international operations as well. It had a domestic market share of 61.4 per cent in May.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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