Shares of InterGlobe Aviation, parent of IndiGo, hit a 10-month high of Rs 1,325, up 4 per cent on Wednesday, even when other airline stocks slipped up to 8 per cent in the intra-day trade.
The stock of InterGlobe Aviation hit its highest level on May 2, 2018. It rallied 90 per cent from its 52-week low level of Rs 697 touched on September 10, 2018, as compared to a 10 per cent rise in the S&P BSE Sensex. It hit an all-time high level of Rs 1,520 on April 20 last year.
SpiceJet dipped 8 per cent to Rs 72.50, while Jet Airways slipped 4 per cent to Rs 237 in the intra-day trade, after the Directorate General of Civil Aviation (DGCA), India’s aviation regulator, grounded Boeing 737 MAX planes following the fatal crash of a plane of the same model in Ethiopia that killed 157 people.
According to a PTI report, IndiGo, the country’s largest airline in terms of market share, announced a three-day special Holi sale across its domestic and international network for travel between March 19 and September 28.
