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IndiGo shares hit 52-week high after company places 'largest-ever' order for 500 Airbus planes

Shares of InterGlobe Aviation, the operator of IndiGo, rose by 2.7 percent, reaching a new 52-week high, following the announcement of the company's order of 500 A320 family aircraft from Airbus.

The order, valued at approximately $50 billion, is considered the largest-ever order in aviation history. The delivery of the new aircraft to IndiGo is scheduled between 2030 and 2035.

The stock of InterGlobe Aviation opened at 2,499 per share, higher than the previous close of  2,432.70 per share.

After a challenging FY2023, textile companies believe the worst is over and anticipate a demand revival by Q3FY2024 with reducing inventories on global retailers' shelves.

The stock has shown significant growth, trading over 62 percent above its 52-week low of  1,511.75, reached on June 20, 2022.

Over the past six months, the stock has increased by more than 18 percent, while in the last year, it has demonstrated a growth of nearly 58 percent. 

The purchase agreement, considered historic, was signed by an IndiGo team led by Managing Director Rahul Bhatia and Airbus executives, including CEO Guillaume Faury, at the Paris Air Show 2023.

Analysts, including Morgan Stanley, expect that InterGlobe Aviation's pending aircraft orders, including the recent order, will reach approximately 1,000, and they anticipate market share gains and margin improvement as drivers for IndiGo's success.

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Largest-Ever Aircraft Order Lifts IndiGo Shares to 52-Week High

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Largest-Ever Aircraft Order Lifts IndiGo Shares to 52-Week High

InterGlobe Aviation's stock rose during Tuesday’s trade after it placed a record-breaking order for 500 Airbus A320 family aircraft, valued at around $50 billion, with deliveries scheduled from 2030 to 2035.

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