IndiGo becomes top aviation stock globally as vaccine fuels optimism
IndiGo is trading about 1% away from 52-week highs and comfortably above its pre-covid levels
Its domestic market share rose to 57.5% in Sep. Although, it is to be seen how much of the gains will sustain
Global aviation stocks are flying high this week as positive news of Pfizer’s covid-19 vaccine fuelled hopes of a rebound in air traffic. As it turns out, leading the charge is India’s InterGlobe Aviation Ltd. Its shares are trading close to a 52-week high and comfortably above its pre-covid highs. InterGlobe’s shares are about 1% away from its 52-week high, while Korean Airlines, Wizz Air Holdings, China Airlines and Spring Airlines, who are next in line, are trading about 5-7% lower.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started