Indigo to fly high
After issues of SEBI probe and then the poor performance for Q4FY18, Indigo is back in the reckoning today morning. For a brief period of time, the stock was even amongst the top gainers on the BSE.
The stock price rose over 5% to Rs.1248.55; it has come off this intra day high and is now at Rs.1234 levels, up some 3.5%. Its 52-week high is at Rs.1520 and low at Rs.1004.95.
The rise in the stock price could be attributed to the news that the company, over the next 18 months, plans to expand its international offerings to over 24 destinations. This is unconfirmed news but this is what the word on the Street is at the moment.
The company is said to be looking at including 18 short haul destinations to Middle East, SE Asia and China. It plans to have 6 long haul destinations to France, Germany, Belgium, UK and Switzerland.
Between now and October, Indigo plans to add Bahrain, Bangladesh, Bhutan, Hong Kong, Kuwait, Malaysia, Riyadh and Abu Dhabi to its basket.
Before end of this fiscal, it plans to expand its fleet to 200.
Indigo currently operates around 15% of its capacity internationally and the rest in the domestic sector.