- By Aditya Pratap Singh
- Wed, 10 Apr 2024 05:41 PM (IST)
- Source:JND
Indigo Airlines M-cap: Shares of InterGlobe Aviation, the operator of IndiGo Airlines, hit a record high of Rs 3,801 on Wednesday afternoon, up about 5%. This is the fourth day in a row that the company's shares have risen. The rally in share price made Interglobe the world's third-largest airline by market capitalization. According to a Moneycontrol report, InterGlobe Aviation's stock rose 22% last month, taking its total market capitalization to Rs 1,46,000 crore ($17.5 billion).
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In December 2023, the company surpassed United Airlines to become the world's sixth-largest airline. The data shows that Delta Air and Ryanair Holdings are the top two airlines with market capitalizations of $30.4 billion and $26.5 billion, respectively.
This year in March, several brokerages issued strong growth forecasts for IndiGo Airlines after an analyst conference. Foreign brokerage firm UBS, maintaining its buy call on the stock, said that they have maintained a positive view on IndiGo due to strong growth prospects in the Indian airline industry, share gains in international travel, efficient cost structure, and operational excellence.
ICICI Securities maintains a bullish outlook on Interglobe Aviation, citing favorable demand-supply dynamics and the company's strong position. After the brokerage meets its FY24 targets, the airline is targeting early double-digit growth in capacity and passengers for FY25.