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IndiGo jumps spurts over 8% in four days

23 Nov 2022 , 03:13 PM

Shares of IndiGo jumped 8.22% in four trading sessions from its recent closing low of Rs 1,747.95 on 17 November 2022. On the BSE, 30,145 shares were traded in the counter so far compared with average daily volumes of 19,503 shares in the past two weeks. The stock hit a high of Rs 1,893 and a low of Rs 1,822.05 so far during the day. The stock hit a 52-week high of Rs 2,282.25 on 10 February 2022. The stock hit a 52-week low of Rs 1,513.3 on 20 June 2022. The stock had outperformed the market over the past one month, rising 5.36% compared with 2.95% rise in the Sensex. The scrip had underperformed the market in past three months, falling 5.62% as against Sensexs 4.35% rise. The counter had underperformed the market in past one year, sliding 13.23% as against Sensexs 5% jump. On the technical front, the stocks daily RSI (relative strength index) stood at 64.256. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 1,806.83, 1,842.31 and 1,846.74, respectively. These levels will act as crucial support zones in near term. InterGlobe Aviation (IndiGo) is amongst the fastest growing low-cost carriers in the world. IndiGo has a simple philosophy: offer fares that are low, flights that are on time, and a courteous, hassle-free travel experience. It had a fleet of 279 aircraft as of 30 September 2022. The company reported a net loss of Rs 1,583.3 crore in Q2 FY23 as against a net loss of Rs 1,435.7 crore in Q2 FY22. Revenue from operations zoomed 122.8% to Rs 12,497.6 crore in Q2 FY23 from Rs 5,608.5 crore recorded in the same period last year. Powered by Capital Market – Live News

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