By December 2023, it had overtaken United Airlines to claim the sixth position among the world’s largest airlines. Current data indicates that Delta Air and Ryanair Holdings hold the top two positions with market capitalizations of $30.4 billion and $26.5 billion, respectively.
During afternoon trade on April 10, shares of InterGlobe Aviation Limited reached a new all-time high, trading 5 percent higher at Rs 3,801 per share. This marked the fourth consecutive day of gains for the company. With this surge, the carrier became the world’s third-largest airline in terms of market capitalization. Over the past month, the stock of InterGlobe Aviation, which operates the IndiGo airline in India, has seen a remarkable 22 percent increase, pushing its total market value to over Rs 1,46,000 crore ($17.5 billion), according to Bloomberg data. Back in December 2023, it surpassed United Airlines to claim the sixth position among the world’s largest airlines. Currently, Delta Air and Ryanair Holdings hold the top two positions with market capitalizations of $30.4 billion and $26.5 billion, respectively.
Following an analysts’ meet in late March, several brokerages issued bullish growth forecasts for the low-cost carrier. UBS reiterated its “buy” recommendation on the stock, emphasizing IndiGo’s promising growth potential within the Indian aviation sector, its expanding market share in international travel, efficient cost structure, and operational excellence. Similarly, ICICI Securities expressed optimism about InterGlobe Aviation, citing favorable demand-supply dynamics and the company’s strong position across multiple metrics, including its robust balance sheet, market share, management expertise, and order book.
ICICI Securities expressed confidence in InterGlobe Aviation, highlighting its strong position across various metrics such as balance sheet strength, market share, management capabilities, and order book. The brokerage also pointed out that IndiGo had successfully achieved its FY24 targets across all fronts and is now targeting early double-digit growth in capacity and passengers for FY25, assigning a price target of Rs 4,009.
As of 3:04 pm, the stock was trading at Rs 3,798, marking a 4.5 percent increase from the previous close on the NSE. Over the past year, the share price has surged by an impressive 99.7 percent.
