IndiGo enters top-50 club of most valuable companies
InterGlobe Aviation-operating the 'IndiGo' brand stood at 47 positions with an m-cap of Rs 42,684 crore on the BSE.
 "IndiGo enters top-50 club of most valuable companies")
InterGlobe Aviation-operating the 'IndiGo' brand, has entered into the list of the top-50 most valuable companies in terms of market capitalization (m-cap) following a sharp surge in its stock price post listing.
IndiGo with an m-cap of Rs 42,684 crore stood at 47th position in overall m-cap ranking on the BSE. The company climbed 11 positions in the m-cap pecking order since its debut on the bourses on November 10, 2015.
It was at 58 positions with m-cap of Rs 31,655 crore at the end of first day of listing. During the period, the stock rallied 35% from Rs 878 to close at Rs 1,185 on Tuesday.
The company had raised Rs 3,009 crore though the initial public offering (IPO) by issuing shares at price of Rs 765 per share.
Today, at 10:47 am, the stock was up 2.6% at Rs 1,215 after hitting a fresh high of Rs 1,234 during intra-day trade on the BSE.
Post listing, InterGlobe Aviation has surpasses Siemens, Bharat Heavy Electricals Limited (BHEL), Cadila Healthcare, Zee Entertainment, Shree Cement, Motherson Sumi Systems, Bank of Baroda, NMDC, Britannia Industries, Grasim Industries and Oracle Financial Services in m-cap ranking.
InterGlobe Aviation Limited operates IndiGo—India’s largest passenger airline with 33.9% and 37.4% market share of domestic passenger volume for FY15. The company operates on a low-cost carrier (LCC) business model and focuses on the domestic Indian air travel market.
Motilal Oswal Securities in a recent report recommended a “Buy” rating on the stock with a target price of Rs 1,478.
“We believe that IndiGo warrants a premium valuation compared with international LCC peers due to it being positioned at the forefront of Indian aviation market growth story and consistently comparable and higher earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) margins even when present in a country that has comparatively high air turbine fuel (ATF) prices (fuel expenses are the biggest cost component for an airline),” local brokerage firm said in a report dated December 10, 2015.
The company's strategy to place bulk purchase orders significantly reduces its ownership costs as it gets discounts on price; we expect the benefit to continue over the long term-given its fleet expansion plans, added report.
IndiGo with an m-cap of Rs 42,684 crore stood at 47th position in overall m-cap ranking on the BSE. The company climbed 11 positions in the m-cap pecking order since its debut on the bourses on November 10, 2015.
It was at 58 positions with m-cap of Rs 31,655 crore at the end of first day of listing. During the period, the stock rallied 35% from Rs 878 to close at Rs 1,185 on Tuesday.
The company had raised Rs 3,009 crore though the initial public offering (IPO) by issuing shares at price of Rs 765 per share.
Today, at 10:47 am, the stock was up 2.6% at Rs 1,215 after hitting a fresh high of Rs 1,234 during intra-day trade on the BSE.
Post listing, InterGlobe Aviation has surpasses Siemens, Bharat Heavy Electricals Limited (BHEL), Cadila Healthcare, Zee Entertainment, Shree Cement, Motherson Sumi Systems, Bank of Baroda, NMDC, Britannia Industries, Grasim Industries and Oracle Financial Services in m-cap ranking.
InterGlobe Aviation Limited operates IndiGo—India’s largest passenger airline with 33.9% and 37.4% market share of domestic passenger volume for FY15. The company operates on a low-cost carrier (LCC) business model and focuses on the domestic Indian air travel market.
Motilal Oswal Securities in a recent report recommended a “Buy” rating on the stock with a target price of Rs 1,478.
“We believe that IndiGo warrants a premium valuation compared with international LCC peers due to it being positioned at the forefront of Indian aviation market growth story and consistently comparable and higher earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) margins even when present in a country that has comparatively high air turbine fuel (ATF) prices (fuel expenses are the biggest cost component for an airline),” local brokerage firm said in a report dated December 10, 2015.
The company's strategy to place bulk purchase orders significantly reduces its ownership costs as it gets discounts on price; we expect the benefit to continue over the long term-given its fleet expansion plans, added report.
| Price on BSE in Rs | % | M-cap in Rs crore | ||||
| Rank | Company | 10 Nov,15 | 15 Dec,15 | chg | 10 Nov,15 | 15 Dec,15 |
| 1 | TCS | 2461.70 | 2375.20 | -3.51 | 482,173 | 465,230 |
| 2 | Reliance Industries | 921.95 | 975.90 | 5.85 | 298,625 | 316,115 |
| 3 | HDFC Bank | 1054.35 | 1057.15 | 0.27 | 265,770 | 266,718 |
| 4 | ITC | 336.55 | 322.60 | -4.15 | 270,209 | 259,127 |
| 5 | Infosys | 1106.40 | 1076.90 | -2.67 | 254,134 | 247,358 |
| 6 | Coal India | 326.40 | 314.10 | -3.77 | 206,166 | 198,397 |
| 7 | HDFC | 1174.45 | 1206.75 | 2.75 | 185,328 | 190,482 |
| 8 | ONGC | 236.95 | 217.85 | -8.06 | 202,722 | 186,381 |
| 9 | Sun Pharma | 732.40 | 773.70 | 5.64 | 176,264 | 186,204 |
| 10 | Hindustan Unilever | 803.45 | 856.30 | 6.58 | 173,856 | 185,292 |
| 11 | SBI | 241.30 | 226.10 | -6.30 | 187,316 | 175,516 |
| 12 | ICICI Bank | 262.40 | 246.35 | -6.12 | 152,401 | 143,177 |
| 13 | Maruti Suzuki | 4715.40 | 4620.60 | -2.01 | 142,443 | 139,579 |
| 14 | Wipro | 556.35 | 558.60 | 0.40 | 137,427 | 137,989 |
| 15 | Kotak Mahindra Bank | 646.55 | 683.45 | 5.71 | 118,404 | 125,189 |
| 16 | Tata Motors | 408.35 | 379.30 | -7.11 | 131,712 | 123,810 |
| 17 | Bharti Airtel | 332.00 | 308.40 | -7.11 | 132,714 | 123,280 |
| 18 | Larsen & Toubro | 1347.45 | 1283.00 | -4.78 | 125,477 | 119,475 |
| 19 | HCL Technologies | 850.75 | 844.60 | -0.72 | 119,756 | 119,014 |
| 20 | NTPC | 131.50 | 131.40 | -0.08 | 108,428 | 108,345 |
| 21 | Axis Bank | 468.50 | 435.35 | -7.08 | 111,416 | 103,560 |
| 22 | IOCL | 398.70 | 417.60 | 4.74 | 96,802 | 101,391 |
| 23 | Asian Paints | 798.25 | 876.30 | 9.78 | 76,568 | 84,055 |
| 24 | Lupin | 1790.55 | 1790.05 | -0.03 | 80,620 | 80,623 |
| 25 | M&M | 1262.00 | 1289.05 | 2.14 | 78,382 | 80,062 |
| 26 | UltraTech Cem. | 2703.75 | 2857.90 | 5.70 | 74,196 | 78,426 |
| 27 | Bharti Infra. | 380.20 | 389.20 | 2.37 | 72,111 | 73,818 |
| 28 | Bajaj Auto | 2453.20 | 2435.45 | -0.72 | 70,988 | 70,475 |
| 29 | Power Grid Corpn | 128.40 | 129.55 | 0.90 | 67,174 | 67,775 |
| 30 | BPCL | 876.25 | 888.35 | 1.38 | 63,360 | 64,235 |
| 31 | Hind.Zinc | 145.35 | 145.60 | 0.17 | 61,415 | 61,520 |
| 32 | Bosch | 19101.10 | 18805.15 | -1.55 | 59,977 | 59,048 |
| 33 | Nestle India | 6066.60 | 5830.30 | -3.90 | 58,494 | 56,216 |
| 34 | IndusInd Bank | 892.35 | 919.50 | 3.04 | 52,900 | 54,558 |
| 35 | Adani Ports | 265.60 | 251.75 | -5.21 | 55,004 | 52,136 |
| 36 | Cipla | 640.85 | 637.65 | -0.50 | 51,467 | 51,214 |
| 37 | Hero Motocorp | 2657.40 | 2563.85 | -3.52 | 53,068 | 51,200 |
| 38 | Dr Reddy's Labs | 3336.30 | 2991.65 | -10.33 | 56,911 | 51,040 |
| 39 | Tech Mahindra | 525.25 | 520.00 | -1.00 | 50,750 | 50,269 |
| 40 | Aurobindo Pharma | 831.65 | 822.50 | -1.10 | 48,565 | 48,031 |
| 41 | Dabur India | 264.90 | 272.45 | 2.85 | 46,600 | 47,928 |
| 42 | Idea Cellular | 129.60 | 131.80 | 1.70 | 46,651 | 47,448 |
| 43 | Godrej Consumer | 1317.65 | 1313.20 | -0.34 | 44,870 | 44,719 |
| 44 | United Spirits | 3486.00 | 3026.75 | -13.17 | 50,662 | 43,988 |
| 45 | GAIL (India) | 281.15 | 339.50 | 20.75 | 35,663 | 43,065 |
| 46 | Eicher Motors | 15876.55 | 15793.65 | -0.52 | 43,089 | 42,886 |
| 47 | InterGlobe Aviation | 878.45 | 1184.50 | 34.84 | 31,656 | 42,684 |
| 48 | Siemens | 1234.25 | 1160.40 | -5.98 | 43,954 | 41,324 |
| 49 | BHEL | 178.35 | 166.10 | -6.87 | 43,653 | 40,655 |
| 50 | Cadila Healthcare | 410.10 | 395.75 | -3.50 | 41,984 | 40,515 |
| Source : CapitalinePlus | ||||||