IndiGo Soars to New Heights, Becomes 3rd Largest Airline Globally, stock hits 4% upper circuit

IndiGo, operated by InterGlobe Aviation, becomes the world's third-largest airline by market cap, with shares hitting a record ₹3,801, surpassing United Airlines and trailing Delta and Ryanair.
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IndiGo, the operator of InterGlobe Aviation Limited, has reached a new pinnacle, becoming the world’s third-largest airline by market capitalisation. On April 10, the airline’s shares rose 5%, achieving a record high of Rs 3,801 apiece. This surge extends the stock’s gains for the fourth consecutive day.

Wednesday’s performance propelled IndiGo above United Airlines, positioning it just behind Delta Air and Ryanair Holdings, with market caps of $30.4 billion and $26.5 billion respectively. IndiGo’s market value has now soared to over ₹1,46,000 crore ($17.5 billion). ICICI Securities remains optimistic about IndiGo, highlighting its strong balance sheet, market share, management, and promising future growth prospects.

IndiGo’s impressive FY24 performance has set the stage for anticipated early double-digit growth in capacity and passenger numbers in FY25. The company’s stock was trading at Rs 3,798 at 3:04 pm, up 4.5% from its previous close, reflecting a stunning 99.7% increase over the past year. ICICI Securities has set a price target of Rs 4,009 for the airline.

Despite challenges like engine issues with P&W, IndiGo’s growth trajectory remains robust, with plans to expand its fleet and network. The airline aims to add 10 new destinations in FY25, expecting a gross addition of more than one aircraft per week. This expansion is projected to drive early double-digit growth in capacity and passenger figures.

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