IndiGo likely to start operations in smaller town

India Infoline News Service | Mumbai | August 07, 2017 14:39 IST

Airlines major, IndiGo presented a proposal to the aviation regulator seeking approval to operate 170 flights every day to the smaller towns and cities, reported a leading business daily.

Airlines major, IndiGo presented a proposal to the aviation regulator seeking approval to operate 170 flights every day to the smaller towns and cities, reported a leading business daily.

In a bid to connect destinations to religious and industrial hubs, the airline plans to operate in 13 small towns including Tirupati, Gwalior, Vijayawada, Bhopal, Bhuj, Shirdi, Allahabad and Gorakhpur, through its ATR-72 planes as a part of the airlines’ regional operations.

The airline also flies to the north eastern states with its Airbus A320. While it has ordered 50 ATR - 72 planes worth USD 1.3 billion. The ATR-72 accommodates 72 seats, while the Airbus has 180 seats.

IndiGo is expected to use the ATR-72 aircrafts for shorter routes starting from November 10 of the present year, said the report.     

Stock view: 

Interglobe Aviation Ltd is currently trading at Rs 1291.25, up by Rs 16.1 or 1.26% from its previous closing of Rs 1275.15 on the BSE.

The scrip opened at Rs 1290 and has touched a high and low of Rs 1298 and Rs 1266 respectively. So far 330141(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 46120.21 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1334 on 01-Aug-2017 and a 52 week low of Rs 790 on 11-Aug-2016. Last one week high and low of the scrip stood at Rs 1334 and Rs 1249 respectively.

The promoters holding in the company stood at 85.85 % while Institutions and Non-Institutions held 8.61 % and 5.54 % respectively.

The stock is currently trading above its 50 DMA.


***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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