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IndiGo becomes world's 3rd largest airline by m-cap as shares hit record high

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In December 2023, it surpassed United Airlines to become the sixth largest airline in the world. Data shows that Delta Air and Ryanair Holdings are the top two airlines with $30.4 billion and $26.5 billion mcap, respectively.

Shares of InterGlobe Aviation Limited scaled fresh record high on April 10 by trading 5 percent higher at Rs 3,801 apiece during afternoon trade, thus extending their gains for fourth day in a row.

Wednesday's gains made the carrier world's third largest airline in terms of market capitalisation. The 22 percent rally in the last one month has taken the stock of InterGlobe Aviation, the operator of IndiGo airline in India, to over Rs 1,46,000 crore ($17.5 billion) in total value, Bloomberg data showed.

In December 2023, it surpassed United Airlines to become the sixth largest airline in the world. Data shows that Delta Air and Ryanair Holdings are the top two airlines with $30.4 billion and $26.5 billion m-cap, respectively.


In late March, multiple brokerages rolled out strong growth forecasts for the low-cost carrier after its analysts meet. "We maintain our positive stance on IndiGo considering strong growth prospects of the Indian aviation industry, share gains in international travel, efficient cost structure and operational excellence," UBS said, as it retained its "buy" call on the stock.

CICI Securities holds a bullish outlook on InterGlobe Aviation, citing favorable demand-supply dynamics and the company's robust position in various aspects including its balance sheet strength, market share, management capabilities, and order book.

The brokerage noted that with IndiGo successfully meeting its FY24 targets across all fronts, the airline is now aiming for early double-digit growth in capacity and passengers for FY25. It has assigned a price target of Rs 4,009.

At 3:04 pm, the stock was trading at Rs 3,798, up 4.5 percent from the previous close on the NSE. The share price has surged a massive 99.7 percent in the last 1 year.

Nifty Wrap Up For 10 April,2024

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Share Market Closing Note


Nifty at 22,750, Sensex up 350 pts; FMCG, metal, oil & gas rally:


Indian benchmark indices ended higher on April 10 with Nifty hitting fresh record high.



At close, the Sensex was up 354.45 points or 0.47 percent at 75,038.15, and the Nifty was up 111.00 points or 0.49 percent at 22,753.80. About 1761 shares advanced, 1617 shares declined, and 81 shares unchanged.


Top gainers on the Nifty included Coal India, BPCL, Kotak Mahindra Bank, ITC and Hindalco Industries, while losers were Cipla, Maruti Suzuki, HDFC Life, Divis Labs and SBI Life Insurance.


Except pharma, all other sectoral indices ended in the green with media, PSU Bank, FMCG, metal, oil & gas up 1-2 percent.


BSE Midcap and Smallcap indices up 0.5 percent each.


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Topic :- Time:3.00 PM


Nifty spot if holds above 22740 level on closing basis then expect some further upmove in coming sessions and if it closes below above mentioned level then some sluggish movement may happen in the market.


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Topic :- Time:2.30 PM


CRUDEOIL Trading View:

CRUDEOIL is trading at 7115. If it holds below 7155 level then expect some decline in it and once it crosses and trades above 7155 level then some upmove can follow in it. Right now one can sell Crudeoil on rise till it holds below 7155 for 7070 target.


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Topic :- Time:2.00 PM


Nifty is trading in range now. Nifty spot if manages to trade and sustain above 22760 level then expect some upmove and it if it breaks and trade below 22700 level then some decline can be seen in the market.


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Topic :- Time:1.50 PM


Just In:

Ramco Systems shares gain 16% after partnering with Korean Air to implement its flagship aviation software.


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Topic :- Time:1.30 PM


SILVER Trading View:

Silver is trading at 82748. If it manages to trade and sustain above 82860 level then expect some quick upmove in it and if it breaks and trade below 82680 level then some decline can follow in Silver.


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Topic :- Time:1.00 PM


BANKNIFTY Trading View:

BANKNIFTY Future is trading at 48936. If it breaks and trade below 48900 level then expect some decline in it and if it manages to trade and sustain above 48980 level then some upmove can follow in it.


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Topic :- Time:12.30 PM


COPPER Trading View:

COPPER is trading at 824.90. If it manages to trade and sustain above 825 level then expect some quick upmove in it till 830-833 levels and if it breaks and trade below 820-817 level then  some decline can be seen in it.


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Topic :- Time:12.00 PM


Nifty is still trading in green zone after hitting new high again today. Nifty spot if manages to trade and sustain above 22740 level then expect some further upmove in the market and if it breaks and trade below 22680 level then some decline can be seen in the Nifty.


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Topic :- Time:11.30 AM


News Wrap Up:

1. Sensex gains 200 points, Nifty above 22,700

2. SC deals a major setback to Anil Ambani in ₹8,000 cr metro case

3. Fitch cuts outlook on China to negative

4. Mutual funds, FPIs increase stake in Paytm

5. EV sales grow across segments in FY24

6. Jio, Airtel must cool down pursuit of satcom spectrum

7. Vodafone Idea to launch Rs 18,000-crore FPO next week

8. Premji Invest eyes $50-$70 million investment in Canva

9. Ramco System soars 18% on deal with Korean Air

10. Avenue Supermart hits new 52-week high on new store addition in Bengaluru

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