InterGlobe Aviation Ltd, which operates low-cost carrier Indigo, became the first aviation company in India to breach the Rs 1 trillion market cap mark after the company’s shares hit a record high with 29% gains this year so far. Today the airline’s shares closed at a record high of Rs 2,619.85 per piece, up 3.55% compared to the previous close. At this share price, the company has a market capitalisation of approximately Rs 1 lakh crore. In today’s intraday trading, the company’s shares also hit an all-time high of Rs 2,634.25.
Indigo ranks 10th in terms of market value among the world's top 10 listed aviation firms. Delta Airlines Inc is the world's biggest airline in terms of market value, with a market cap of $29.62 billion followed by South West Airlines Co and Ryanair Holdings PLC. United Airlines Holdings PLC ranks at number four, followed by Air China, Singapore Airlines, China Southern Airlines, China Eastern Airlines Co and Deutsche Lufthansa.
The share price of IndiGo has been experiencing an upward movement after Go Air declared insolvency, on expectations of the former’s growing market share. Investors also expressed confidence in the stock after the low-cost airline announced that it has placed the largest order ever by any Indian airline - an order for 500 Airbus A320 Family aircraft. The company said, “This 500 aircraft order is not only IndiGo’s largest order, but also the largest-ever single aircraft purchase by any airline with Airbus. The engine selection for this order will be done in due course and so will be the exact mix of A320 and A321 aircraft.”
This aircraft purchase order by Indigo eclipsed Tata-owned Air India's record 470 aircraft order set in March.
Today, the domestic equity indices closed at a record high, led by Adani, ITC and other shares. The Sensex ended 0.79% higher at 63,915.42, while the Nifty closed 0.82% higher at 18,972.10. During the day, Nifty touched a new milestone at 19,000, while Sensex also surpassed the 64,000 level for the first time. Today, the Indian rupee closed flat against the US dollar as the domestic currency tracked the performance of other Asian currencies. The rupee settled at 82.06 to one US dollar, down 0.03% from the previous close of 82.03.
