Indigo Share Price: Indigo Shares
IndiGo wants to increase its flights to 10 new places by FY25 and aims to have over 600 planes by FY30. They think more people will fly in India in the next few years. In FY23, IndiGo started flying to 10 new places in India and 7 abroad. Now in FY24 they fly to more international places compared to the FY23.
On Tuesday, IndiGo share price zoom by more than 6% and reached its highest point in a year. This happened because a foreign company called UBS increased its target price for the stock. IndiGo’s shares went up by 6.05% to ₹3,484.00 each on the BSE.
Highlights
Indigo Stock Price on NSE and BSE
IndiGo, a leading player in the aviation sector, is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). As of March 26, 2024, till 02:37 PM, Indigo shares stands at ₹3,485 per share. This price reflects a significant increase from the previous day close of ₹3,286.80. Throughout the trading day, the stock has seen fluctuations within a range of ₹3,266.80 to ₹3,327.05.
Over the past year, IndiGo shares has demonstrated strength, with a 52-week range spanning from ₹1,810.65 to ₹3,342.00. Notably, the company boosts a substantial market capitalization, approximately valued at ₹1.27 trillion. Given its stature in the aviation industry, IndiGo gathers considerable attention from investors and traders alike. The performance of its stock is subject to various factors, including financial results, triumph market sentiment, and broader trends within the aviation sector.
UBS Bullish on IndiGo: Positive Industry Outlook
UBS (Union Bank of Switzerland) stays optimistic about IndiGo due to India’s growing aviation industry, gains in international travel, and efficient operations. They suggest buying IndiGo shares and raised the target price to ₹4,000, expect a 21% increase. In spite of challenges like higher fuel prices and pilot salaries, UBS expects stable to improved performance, driven by increased seat kilometers and yields.
InterGlobe Aviation, which operates IndiGo Airlines, dominates India’s domestic air travel with a 55% market share. The company foresees robust long-term growth in Indian air travel, projecting a 15% annual growth rate till FY30. It aims for international expansion and sees India becoming a key global travel hub.
IndiGo plans to expand domestically and internationally, aiming for double-digit growth in available seat kilometers. Despite supply chain issues, UBS predicts strong near-term performance, estimating double-digit ASK growth in FY25, surpassing market expectations.
On March 11, co-founder Rakesh Gangwal sold 5.83% of Indigo’s stake in bulk deals, raising Rs 6,786 crore. He sold 22.5 million shares at Rs 3,016 each, with Morgan Stanley Asia buying 2.1 million shares worth Rs 633 crore. Other buyers remain undercover. In spite of a slight dip to around 60% in February from over 63% in July, IndiGo maintains mastery in India’s domestic aviation market.
Motilal Oswal Financial Services (MOFSL) notes that India’s aviation market is currently underpenetrated, offering significant growth opportunities for domestic players. With increasing airport infrastructure and aircraft orders, India could become the world’s third-largest aviation market by 2023.
About Indigo (Interglobe Aviation Ltd)
Since 1989, InterGlobe Enterprises has been connecting people and markets. Our strong dedication to this goal has helped us grow in industries like aviation, hospitality, logistics, travel commerce, airline management, advanced pilot training, and aircraft maintenance engineering.
In the last thirty years, we’ve broadened our vision and become one of India’s top conglomerates. With our headquarters in Gurugram and a team of over 60,000 employees spanning across 35+ countries and 130+ cities worldwide, we’re driven by a commitment to quality, value, and innovation, propelling us forward into the future.
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