InterGlobe Aviation touched a 52-week high, due to which the stock surged

Shares of InterGlobe Aviation, the parent company of budget airline IndiGo, rose nearly 3 percent to hit their 52-week high in the stock market today.
The stock surged yesterday after IndiGo announced placing a firm order for 500 narrow-body planes from Airbus.
On Tuesday, the stock of InterGlobe Aviation rose 2.76 percent to its 52-week high of Rs 2,499.95 during the day on the BSE. However, after opening up sharply, the company's shares ended almost flat at Rs 2,438.35, up 0.23 percent, till the market close today.
On the NSE, the company's shares rose 2.37 percent to its 52-week high of Rs 2,490 in intra-day trade. However, it later closed at Rs 2,434.40, up 0.09 percent, till the market close.
Yesterday i.e. on Monday, Indigo, showing its long-term growth, placed the order to buy the largest aircraft ever by an airline. The company had announced placing a firm order for 500 narrow-body planes from Airbus.
The multi-billion dollar deal by Indigo Airlines comes less than five months after Air India placed orders for 470 aircraft with Airbus and Boeing.
Let us tell you that this order from Indigo is the largest aircraft order ever given to Airbus by any airline. However, the company has not yet disclosed the financial details.
The agreement for the purchase of aircraft between Indigo Airlines and Airbus was signed at the Paris Air Show 2023. The latest order will provide IndiGo with a more steady stream of deliveries between 2030 and 2035, the airline said in a release.
At present Indigo operates more than 300 aircraft. Currently, the company has back orders for a total of 480 aircraft, which are yet to be delivered.