IndiGo shares hit all-time high as Q3 beats estimates
IndiGo shares surge as much as 5.6% to hit a new all-time high of ₹3,301.40 today; the aviation stock has rallied 15% in the last six sessions.
IndiGo shares surge as much as 5.6% to hit a new all-time high of ₹3,301.40 today; the aviation stock has rallied 15% in the last six sessions.
The Gangwal family led by Rakesh Gangwal looks to sell 4% stake in IndiGo at a floor price of ₹2,400 per share, a discount of 5.8% to Monday’s closing price.
The aviation heavyweight has been witnessing profit booking after hitting its all-time high levels of ₹2,745.95 on July 13, 2023.
The airline is in talks with Airbus to lease 500 narrow-body A320 jets, which is expected to eclipse Air India's provisional purchase of 470 aircraft in February this year.
IndiGo’s profit was ₹919.2 crore in Q4 vs ₹1,681.8 crore loss in the same period last year. Revenue surged 76.5% YoY to ₹14,160.6 crore
The stock was trading at ₹1,901 apiece on the National Stock Exchange (NSE) at 12:50 pm.
Rakesh Gangwal and his family plan to raise ₹2,000 crore by selling 2.8% stake in InterGlobe Aviation through a block deal today