InterGlobe Aviation Shares Hit 52-Week High In Intra-Day Trade

Shares of InterGlobe Aviation climbed nearly 3 per cent to hit its 52-week high level during the trade on Tuesday, a day after IndiGo announced placing a firm order to buy 500 narrow-body planes from Airbus.

The stock of the parent of IndiGo gained 2.76 per cent to hit its 52-week high of Rs 2,499.95 during the day on the BSE. However, later it trimmed most of the early gains and ended almost flat at Rs 2,438.35, up 0.23 per cent.

At the NSE, shares of the company advanced 2.37 per cent to its 52-week high of Rs 2,490 in intra-day trade. Later, it gave up most of the gains and ended at Rs 2,434.40, up 0.09 per cent.

In one of the largest-ever aircraft purchases by an airline, IndiGo on Monday announced placing a firm order to buy 500 narrow-body planes from Airbus as the airline embarks on an ambitious long-term growth path.

The multi-billion dollar deal comes less than five months after Air India placed orders for 470 aircraft with Airbus and Boeing.

The latest order by IndiGo is the largest-ever aircraft order placed by any airline with Airbus.

Financial details of the order were not disclosed.

The aircraft purchase agreement was signed between the airline and Airbus at the Paris Air Show 2023.  The latest order will provide IndiGo a further steady stream of deliveries between 2030 and 2035, the airline said in a release.

Currently, IndiGo operates more than 300 aircraft. It has previous orders totalling 480 aircraft, which are yet to be delivered.
 

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