InterGlobe Aviation gains on report of new flight launches

InterGlobe Aviation rose 2.43% to Rs 1,264.50 at 10:12 IST on BSE on reports the company launched 24 new flights on its domestic network which include first daily non-stop flight between Delhi and Thiruvananthapuram.

Meanwhile, the BSE Sensex was down 354.18 points, or 1.39%, to 25,052.15.

On BSE, so far 63,000 shares were traded in the counter, compared with an average volume of 5.45 lakh shares in the past one quarter. The stock hit a high of Rs 1,268.75 and a low of Rs 1,220 so far during the day. The stock hit a record high of Rs 1,395.50 on 1 January 2016. The stock hit a record low of Rs 848.10 on 10 November 2015.

Shares of InterGlobe Aviation, the promoter of low-cost carrier IndiGo, debuted on the stock exchanges on 10 November 2015 at Rs 856 on BSE, a premium of 11.90% compared with its initial public offer (IPO) price. On that day, it settled at Rs 878.45 on BSE, a premium of 14.83% compared with the initial public offer price of Rs 765. The stock had outperformed the market over the past one month till 6 January 2016, rising 14.60% compared with 0.90% decline in the Sensex.

The large-cap company has an equity capital of Rs 360.36 crore. Face value per share is Rs 10.

The introduction of these new flights would help IndiGo cross 650 flights mark as it would offer a total of 671 flights per day connecting 39 destinations, reports added.

InterGlobe Aviation reported net profit of Rs 640.43 crore on revenue from operations of Rs 4211.54 crore in Q1 June 2015. Net profit stood at Rs 1295.58 crore on revenue from operations of Rs 13925.33 crore for the year ended 31 March 2015 (FY 2015).

InterGlobe Aviation is the operator of low cost passenger airline IndiGo.

Powered by Capital Market - Live News