IndiGo Share Price Update: The trading of Monday 28 October 2024 has been very disappointing for the stock of Indigo, the country’s largest private airline. During the day’s trade, the stock fell by 13.42 percent and slipped to Rs 3780. This is the first time after March 2022 that such a huge decline has been seen in the stock. At the end of today’s trading, the share closed at Rs 4015.45 with an increase of 8.03 percent.
Indigo has declared very disappointing financial results in the second quarter of the financial year 2024-25. Indigo has suffered losses in the second quarter due to increase in fuel expenses and sharp rise in ground related expenses. Indigo has suffered a loss of Rs 987 crore in the second quarter. However, there was a jump of 13.5 percent in the revenue of airlines and it was Rs 16,969 crore which was Rs 14,943 crore in the same quarter last year. IndiGo CEO Peter Elbers said on the results that the results are always weak in the second quarter but the impact of grounding and increased expenditure on fuel has been seen in the results this time.
In today’s trading session, Indigo stock opened at Rs 4200 as against the previous closing price of Rs 4366. And due to sharp selling in the stock, it hit lower circuit after falling by 10 percent. After the opening of the circuit, the stock fell further and fell by more than 13.40 percent to Rs 3780. However, buying in the stock returned from lower levels and it was successful in coming above Rs 4000. The stock closed at Rs 4015 with a decline of Rs 350 or 8.03 percent. The market capitalization of InterGlobe Aviation has come to Rs 1,55,105 crore.
Despite the fall in IndiGo’s shares, Kotak Securities has advised to buy the stock but has reduced the target price from Rs 5400 to Rs 5200. But Nuvama has downgraded the stock and increased the target price to Rs 4415. Meanwhile, Indigo shares have given multibagger returns of 35 percent in 2024 and 127 percent in two years.
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