Interglobe Aviation Ltd. on Tuesday fell 6% to touch Rs 1,296.55 on the Bombay Stock Exchange. The stock opened at Rs 1,280.10.
Gurugram based aviation company, Indigo Airlines is the largest airline in India by passengers carried and fleet size, with a 60.4% domestic market share as of July 2020. It was founded in 2005.
Varun Ginodia, an analyst at Ambit Capital Pvt. Ltd had said, “We continue to see IndiGo as a key beneficiary of consolidation in the sector and shift of market share from rail to air, given the safety concerns with the former. High liquidity implies IndiGo has fixed cost cover for a year versus 2-5 months for peers. Inducting more cost-efficient fleet and focusing on long-term relationships with lessors/employees imply cost advantage over peers, which was visible in FY20, would only widen.”
At 2:00 pm, the stock was trading at Rs 1213.15 on the National Stock Exchange (NSE) after touching a high of Rs 1286.00.
Over the past months, we have been on a mission to securely deliver essentials and other cargo across the nation and abroad on our lean, clean flying machine. Here’s to more CarGo milestones! #LetsIndiGo #Aviation #IndiGoCarGo #CarGo pic.twitter.com/76P5cmW33L
— IndiGo (@IndiGo6E) September 13, 2020
