Shares of InterGlobe Aviation, the parent company of IndiGo, remained in focus on Monday, May 25, after a large block deal worth nearly Rs 487 crore was executed in the market.
Around 1,088,670 shares of IndiGo changed hands at Rs 4,476.40 per share in the block deal window. The total transaction value stood at approximately Rs 487.33 crore.
Following the transaction, IndiGo shares were trading 1.74% higher at Rs 4,515.70 on the NSE. The stock touched an intraday high of Rs 4,536.40 and a low of Rs 4,438.70 during early trade.
At the current market price, InterGlobe Aviation commanded a market capitalization of around Rs 1.75 lakh crore, while average traded volume on the counter stood near 1.09 million shares.
The block deal was executed marginally above the previous closing price of Rs 4,438.60, indicating continued institutional interest in the aviation major despite volatility in global crude oil prices and aviation fuel markets.
Aviation stocks have also remained in focus after sharp declines in crude oil prices, which are expected to reduce aviation turbine fuel costs and improve operating margins for airlines.
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