There is a lot of demand for aviation shares since Wednesday morning. The special thing is that despite the increase in the prices of jet fuel, a rise of up to 10 percent has been seen in the shares of InterGlobe Aviation. Due to which the market cap of the company has seen an increase of more than Rs 15 thousand crores. After a long time, such a tremendous rise has been seen in the shares of Indigo's parent company. According to experts, there is an increase in the shares after the announcement of the new CEO of the company.
According to experts, to save the lost reputation of Indigo, a veteran of the aviation industry has been associated with the company. We may see further increase in the company's shares in the coming days. Let us also tell you what kind of figures are being seen in the company's shares in the stock market. Also, which new CEO has entered the company?
IndiGo's parent company InterGlobe Aviation had a good start to the business and within no time its shares on BSE rose by 9.84 percent to reach the peak of the day at Rs 4,332. However, in the morning the shares of the company started with Rs 4,035.35. A day ago the company's shares were seen at Rs 3,943.75. However, at 2:10 pm the company's shares are trading at Rs 4,219.30 with a rise of 7 percent. However, the company's shares are currently down more than 30 percent compared to its 52-week high of Rs 6,225.05. Shares of SpiceJet also increased by 4.72 percent to Rs 10.20.
Due to this rise in the shares of Indigo, there was a tremendous increase in the market cap of the company. When the stock market closed on Monday, the market cap of the company was seen to be around Rs 152,470.50 crore. Which reached Rs 167,480.75 crore during the trading session on Wednesday. This means that there was an increase of Rs 15,010.25 crore in the valuation of the company. If experts are to be believed, there may be further increase in the shares of the company in the coming days and there may be an increase in the valuation of the company.
Even though there has been an increase in the prices of air turbine fuel, there has been a rise in the shares of Indigo. The biggest reason for this is that the company has got its new CEO. The country's largest airline IndiGo on Tuesday announced that it has appointed pilot and current head of global airlines group IATA William Walsh as its next CEO. Jefferies said Mr Walsh, who has four decades of aviation experience, is expected to lead IndiGo through its current growth phase, operational stability and international expansion. Mr Walsh's tenure as head of the International Air Transport Association (IATA) ends on July 31, and he is expected to join IndiGo by August 3, the airline said in a statement.
IndiGo's share in India's rapidly growing aviation market is about 65 percent. However, the airline faced its biggest crisis in December, when it had to cancel more than 4,500 flights due to failure to prepare for the new pilot rest rules. Regulators reprimanded several senior executives, including Mr. Albers, citing lack of proper oversight of flight operations and crisis management. Like other airlines, IndiGo has also faced higher costs as flights are being rerouted due to the war in the Middle East and restrictions on Pakistani airspace. IndiGo's shares have fallen 19% so far this year, making it one of the best-selling airlines.
