(PTI) The market valuation of InterGlobe Aviation, the parent of IndiGo, reached ₹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 ₹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 ₹2,634.25.
On the NSE, shares of the company climbed 3.61 per cent to end at ₹2,621.10 per piece.
Helped by a rally in the stock price, the company's market valuation surged to ₹1,01,007.56 crore on the BSE.
The stock has been rallying since Tuesday this week.
So far this year, the airline stock has rallied 30.53 per cent on the BSE, against a 5 per cent jump in the benchmark Sensex.
An overall optimistic trend in the equity market also helped the rally in the stock.
The 30-share BSE Sensex surged 499.39 points or 0.79 per cent to settle at its lifetime closing high of 63,915.42 on Wednesday. During the day, the index jumped 634.41 points or 1 per cent to hit its all-time intra-day peak of 64,050.44.
The NSE Nifty climbed 154.70 points or 0.82 per cent to end at a record high of 18,972.10 in the previous trade. During the day, it zoomed 193.85 points or 1 per cent to reach its lifetime intra-day high of 19,011.25.
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 latest order by IndiGo is the largest-ever aircraft order placed by any airline with Airbus.
IndiGo is the country's largest domestic carrier and is expanding its international operations as well. It had a domestic market share of 61.4 per cent in May.