Indigo shares soar, first Indian airline to achieve this milestone

Indian stock markets achieved new heights on Wednesday, 28 June. The BSE Sensex crossed the 64 thousand mark for the first time and the Nifty crossed the 19 thousand mark. Along with this, some companies also achieved new heights and one of the prominent names among them is IndiGo. Indigo’s share prices also saw a significant rise on Wednesday.

MCAP of Indigo has become so much

On Wednesday, Indigo’s share (IndiGo Share) strengthened by 3.55 percent and closed near Rs 2,620. With this, the market capitalization of the company also increased to Rs 1,01,007.56 crore. In this way, both IndiGo’s market capitalization (IndiGo MCap) and share price are at their lifetime high level. This is the first time that the market capitalization of an Indian airline has crossed Rs 1 lakh crore.

Benefit from Go First’s plight

The Indian market is considered very difficult for the airlines. Recently, the condition of another airline Go First deteriorated and the company filed for bankruptcy. Although Indigo has benefited a lot from this. Indigo’s shares are seeing a lot of boom since GoFirst filed for insolvency. So far this year, its shares have gained more than 28 per cent.

Largest order placed recently

Indigo has placed an order for 500 aircraft earlier this month. This order is for Airbus Neo Family aircraft, whose total value is around $ 50 billion. The company will get the delivery of these aircraft during the year 2030 to 2050. This is the biggest deal ever in aviation history. This shows the future preparations of the company.

The brokerage firm increased the target

This is probably the reason why brokerage firms continue to trust Indigo’s shares. According to the brokerage firm UBS, there is a lot of potential in the shares of Indigo. UBS had earlier given it a target of Rs 2,690. Now he has increased the target of Indigo to Rs 3,300. The brokerage firm believes that Indigo is currently well positioned and is able to handle the impact of changes in the US dollar or crude oil prices without much difficulty.

read this also: The value of Apple company alone has exceeded the whole of France, behind only 6 countries including India