IndiGo shares: InterGlobe Aviation stock flying 5% high, among top Nifty 50 gainers | Buy? Target price, upside
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓InterGlobe Aviation shares rallied 5% on Wednesday, becoming a top Nifty 50 gainer.
- ✓The stock touched an intraday high of ₹5,692.30 amid falling crude oil prices.
- ✓Brokerage firm Motilal Oswal maintained a buy rating with a target price of ₹6,000.
Story at a Glance
- Category
- Indian Markets
- Reported By
- mint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
InterGlobe Aviation shares, the parent company of aviation giant IndiGo, rallied as much as 5% in Wednesday's trading session amid a strong bull run in the Indian stock market. The aviation stock was the top gainer on Nifty 50 on November 11.
IndiGo share price opened at ₹5,520 apiece on NSE today, as compared to the previous close of ₹5,430 on Monday and touched an intraday high of ₹5,692.30 on Wednesday.
The stock rally also came in amid falling crude oil prices on hopes for a de-escalation in the Iran war and concerns about ongoing attacks on shipping in the Strait of Hormuz.
Meanwhile, Indian equity benchmarks, the Sensex and Nifty, opened Wednesday's session on a strong note, supported by foreign fund inflows, better-than-expected September-quarter earnings and a continued decline in crude oil prices. The 30-share BSE Sensex surged 1,097.33 points to 82,186.92 in early trade, while the NSE Nifty 50 advanced 274.30 points to 25,317.55.
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