IndiGo Skyrockets to Record High, Claims Third Spot in Global Airline Rankings by Market Cap

InterGlobe Aviation Limited’s shares soared to a fresh all-time high today, reaching ₹3,801 apiece, marking a 5 per cent surge and extending its winning streak for the fourth consecutive day. This surge propelled the carrier to claim the position of the world’s third-largest airline by market capitalization. Over the past month, the stock has witnessed an impressive rally of 22 per cent, driving InterGlobe Aviation’s total market value to over ₹1,46,000 crore ($17.5 billion), as reported by Bloomberg.

Trading at ₹3,798 on the NSE, up 4.5 per cent from the previous close, the stock has recorded an astounding 99.7 per cent increase in its share price over the last year.

In December 2023, IndiGo surpassed United Airlines to secure the sixth position among the world’s largest airlines. Delta Air and Ryanair Holdings held the top two spots with market capitalizations of $30.4 billion and $26.5 billion respectively.

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Brokerages have maintained an optimistic outlook on IndiGo’s stock. UBS reaffirmed its “buy” rating on the stock in late March, emphasizing the airline’s robust growth prospects within the Indian aviation industry, its expanding market share in international travel, efficient cost structure, and operational excellence.

Similarly, ICICI Securities expressed a bullish sentiment towards InterGlobe Aviation, citing favourable demand-supply dynamics and the company’s strong market position.