Home Uncategorized Nifty Rise as InterGlobe Shares Increase by 0.99%

Nifty Rise as InterGlobe Shares Increase by 0.99%

Nifty Rise as InterGlobe Shares Increase by 0.99%

Shares of InterGlobe Aviation Ltd. moved up 0.99 per cent on Wednesday’s trading session as the benchmark BSE Sensex advanced 347.43 points to 59453.87. A total of 7,458 shares traded hands at Rs 1.42 crore with the stock quoting a 52-week high price of Rs 2194.0 and a 52-week low of Rs 1513.3.

The stock has moved up 4.72 per cent over the span of one year, while Sensex has gone up 0.3 per cent. Looking at the technical charts, the 200-DMA of the stock stood at Rs 1891.15, while the 50-DMA was at Rs 1941.75. A stock trading above 50DMA and 200DMA generally indicates an upwards trend while trading below them suggests a bearish trend.

InterGlobe Aviation Ltd. is an Indian airline holding company that owns and operates IndiGo, a low-cost airline with flights to 73 destinations in India and abroad. The group also provides air transport service through its other subsidiaries. Currently, the company’s market capitalization stands at Rs 28,224 crore and investors are willing to pay a higher price for its shares due to the expectation of its future growth.

Ravinder Pal Singh Bhatia is the CEO of InterGlobe Aviation Limited. He is an engineer from IIT-Bombay and holds an MBA from IIM-Ahmedabad. He brings more than two decades of Business strategy & corporate management experience of which more than 14 years was as the executive leadership of a leading Indian mobile communications operator and its holding companies.