Latest news with #InterGlobeAviationLtd
Business Insider
a day ago
- Business
- Business Insider
InterGlobe Aviation Ltd (INDIGO) Gets a Buy from UBS
In a report released yesterday, Pramod Kumar from UBS maintained a Buy rating on InterGlobe Aviation Ltd (INDIGO – Research Report), with a price target of INR6,450.00. The company's shares closed yesterday at INR5,330.00. Confident Investing Starts Here: Kumar covers the Consumer Cyclical sector, focusing on stocks such as Mahindra & Mahindra Ltd., Bajaj Auto Limited, and Maruti Suzuki India Limited. According to TipRanks, Kumar has an average return of -11.1% and a 60.00% success rate on recommended stocks. InterGlobe Aviation Ltd has an analyst consensus of Moderate Buy, with a price target consensus of INR5,589.17, representing a 4.86% upside. In a report released today, Jefferies also maintained a Buy rating on the stock with a INR6,300.00 price target. The company has a one-year high of INR5,665.65 and a one-year low of INR3,778.50. Currently, InterGlobe Aviation Ltd has an average volume of 35K.
Business Insider
a day ago
- Business
- Business Insider
Jefferies Reaffirms Their Buy Rating on InterGlobe Aviation Ltd (INDIGO)
Jefferies analyst Prateek Kumar maintained a Buy rating on InterGlobe Aviation Ltd (INDIGO – Research Report) today and set a price target of INR6,300.00. The company's shares closed yesterday at INR5,330.00. Confident Investing Starts Here: According to TipRanks, Kumar is a 3-star analyst with an average return of 3.9% and a 70.00% success rate. Kumar covers the Basic Materials sector, focusing on stocks such as ACC Limited, Ambuja Cements Limited, and Dalmia Bharat Ltd.. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for InterGlobe Aviation Ltd with a INR5,589.17 average price target, representing a 4.86% upside. In a report released on May 22, J.P. Morgan also maintained a Buy rating on the stock with a INR5,835.00 price target. The company has a one-year high of INR5,665.65 and a one-year low of INR3,778.50. Currently, InterGlobe Aviation Ltd has an average volume of 35K.
News18
4 days ago
- Business
- News18
Who Is Vikram Singh Mehta, New Chairman Of IndiGo?
Last Updated: IndiGo appointed Vikram Singh Mehta as chairman of InterGlobe Aviation Ltd, succeeding Venkataramani Sumantran. Mehta, a former IAS officer, joined the board in May 2022. IndiGo, India's largest airline, on Wednesday appointed Vikram Singh Mehta as the new chairman of its parent company, InterGlobe Aviation Ltd. Mehta takes over the reins from Venkataramani Sumantran, who stepped down after completing his five-year term as a board member. Sumantran had served as chairman since May 2022 and played a pivotal role in steering IndiGo's post-COVID recovery and subsequent growth phase. Who Is Vikram Singh Mehta? Mehta is not new to IndiGo — he has been serving as a Board Member since May 2022. His elevation to Chairman marks a continuation of strategic leadership at a time when the airline is witnessing strong growth and expanding its global footprint. A former Indian Administrative Services (IAS) officer, Mehta brings decades of experience across sectors. He notably served as the Chairman of the Shell Group of Companies in India, and held key leadership roles as CEO of Shell Markets and Shell Chemicals in Egypt. His corporate governance credentials are further strengthened by his presence on the boards of several prominent Indian companies. Vikram Singh Mehta is academically accomplished. He holds a Mathematics degree from St. Stephen's College, Delhi University, a master's in Politics and Economics from Oxford University, and a master's in Energy Economics from Tufts University. His deep understanding of global economics and energy markets adds strategic value to IndiGo's leadership team. With Mehta stepping in as Chairman, IndiGo's board now includes seven members, among them co-founder Rahul Bhatia. The leadership change comes at a time when promoter Rakesh Gangwal and his family trust recently offloaded a 5.72% stake in the airline, raising Rs 11,564 crore through open market transactions. Mehta's appointment signals continuity and a seasoned hand at the helm, as IndiGo charts its path through an increasingly competitive and global aviation landscape. First Published: May 28, 2025, 18:17 IST
Time of India
5 days ago
- Business
- Time of India
Leadership change at IndiGo airlines: Vikram Singh Mehta named new chairman
Vikram Singh Mehta named new Chairman of IndiGo IndiGo, India's largest airline, appointed Vikram Singh Mehta as its new Chairman on Wednesday, replacing Venkataramani Sumantran. Mehta has served on the Board of InterGlobe Aviation Ltd (IndiGo) since May 2022. IndiGo confirmed that Mehta takes over from Sumantran, who concluded his five-year tenure as a board member, reported PTI. The airline acknowledged that Sumantran, who became Chairman in May 2022, steered the Board through IndiGo's recovery and expansion in the post-Covid period over the previous three years. Mehta's background includes roles as an Indian Administrative Services (IAS) officer, Chairman of Shell Group of Companies in India, and CEO positions at Shell Markets and Shell Chemicals, Egypt. His experience extends to various corporate board positions. He completed his Mathematics degree from St. Stephen's College, Delhi University, followed by master's qualifications in Politics and Economics from Oxford University and Energy Economics from Tufts University. The company's board comprises six additional members, including co-founder Rahul Bhatia, according to the IndiGo website. Additionally, on Tuesday, IndiGo promoter and co-founder Rakesh Gangwal and his family trust reduced their ownership by selling a 5.72 per cent stake in the airline for Rs 11,564 crore through open market transactions. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
5 days ago
- Business
- Mint
IndiGo shares edge higher on appointment Vikram Singh Mehta as Chairman of the Board
Shares of InterGlobe Aviation Ltd, the parent company of IndiGo Airlines, edged higher by nearly 1 percent in intra-day trading on Wednesday, May 28, after Vikram Singh Mehta has been appointed as IndiGo's Chairman of the Board, succeeding Venkataramani Sumantran. The press filing stated that Dr. Sumantran, who assumed the chairmanship in May 2022, played a pivotal role in guiding IndiGo's Board during a critical post-COVID phase. Under his leadership, the airline navigated a robust recovery and recorded remarkable growth over the past three years, solidifying its market leadership. Meanwhile, it added that Vikram Singh Mehta brings decades of rich experience across public administration, policy, and corporate leadership. His career began with the Indian Administrative Services (IAS) in 1978, where he served for two years before transitioning to the private sector. He is currently Chairman of the Centre for Social and Economic Progress, a prominent public policy think tank, and has also held the roles of Executive Chairman at Brookings India and Senior Fellow at the Brookings Institution. In the corporate world, Mehta is best known for his long stint as Chairman of the Shell Group of Companies in India. He also served as CEO of Shell Markets and Shell Chemicals in Egypt. Over the years, he has held board positions at leading Indian corporates including Colgate Palmolive (India) Limited, Mahindra & Mahindra Limited, and Larsen & Toubro Limited. On May 27, 2025, Rakesh Gangwal sold 22.10 lakh equity shares of InterGlobe Aviation through the open market, amounting to a 0.57 percent stake. Following this sale, Gangwal's holding in the company declined to 1.82 crore shares or 4.73 percent, down from 2.05 crore shares or 5.30 percent before the transaction. The total share capital of the company remained unchanged at 38.64 crore shares, confirming that the dilution resulted solely from the promoter's offloading and not from any capital restructuring. According to reports, global investment banks Goldman Sachs, Morgan Stanley, and JPMorgan are managing the latest stake sale. The move is in line with Gangwal's previously announced intention to gradually exit the airline. Having stepped down from IndiGo's board in 2022, Gangwal has steadily trimmed his holding over the last few years. Since February 2022, Gangwal and his family have pared their stake from 36.6 percent to 13.5 percent as of the latest sale. In September 2022, the Gangwals sold a 2.74 percent stake for ₹ 2,005 crore, followed by a 4 percent stake sale by Shobha Gangwal in February 2023 for ₹ 2,944 crore. Later in August 2023, she divested nearly 2.9 percent for over ₹ 2,800 crore. Despite Gangwal's stake sale, IndiGo's stock performance remained resilient, supported by a strong operational performance in the March quarter. The airline reported a 62 percent year-on-year increase in net profit to ₹ 3,067 crore, aided by high travel demand during the Maha Kumbh Mela and wedding season. This marked the second-highest quarterly profit in IndiGo's history. Revenue for the quarter stood at ₹ 22,152 crore, up 24 percent from ₹ 17,825 crore in the same quarter last year. However, for the full financial year ended March 2025, the airline reported a net profit of ₹ 7,258 crore, down 11 percent year-on-year. Key performance indicators like yield rose 2.4 percent year-on-year to ₹ 5.32 per kilometre, while the passenger load factor improved by 1.1 percentage points to 87.4 percent. IndiGo shares hit an intraday high of ₹ 5,355.70 on May 28, rising 0.8 percent. Earlier this month, the aviation stock touched its 52-week high, while its 52-week low of ₹ 3,778.50 was recorded in October 2024. The stock has been on a consistent uptrend, gaining nearly 2 percent so far in May and extending its winning streak for the fourth consecutive month. It rose 2.6 percent in April, 14.2 percent in March, and 3.5 percent in February, though it dipped 5 percent in January. Over the past one year, the stock has delivered a stellar return of more than 27 percent.
