IndiGo Parent Firm InterGlobe Aviation's Valuation Reaches Rs 1 Lakh Crore

Last week on Monday, IndiGo announced placing a firm order to buy 500 narrow-body planes from Airbus as the airline embarks on an ambitious long-term growth path.

The market valuation of InterGlobe Aviation, the parent of IndiGo, reached Rs 1 lakh crore mark on Wednesday and became the first airline to achieve this milestone.

On Wednesday, the stock rallied 3.55 per cent to settle at Rs 2,619.85 apiece on the BSE. In intra-day trade, shares of the company jumped 4.12 per cent to hit its 52-week high of Rs 2,634.25.

On the NSE, shares of the company climbed 3.61 per cent to end at Rs 2,621.10 per piece.

Helped by a rally in the stock price, the company's market valuation surged to Rs 1,01,007.56 crore on the BSE.