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by IANS |
New Delhi, Nov 24 (IANS) Interglobe Aviation, the parent company of IndiGo, rose around 2 per cent to Rs 5,953 in early trading on Monday following the announcement from BSE that the airline stock will join the 30-share Sensex on December 22, replacing Tata Motors Passenger Vehicles.
The shares of the PV-maker Tata Motors dropped over 1.5 per cent following the exclusion. Both the shares regained some of the lost ground as of 11:20 am.
Interglobe traded at Rs 5,853, up Rs 9.50 or 0.16 per cent, while Tata Motors Passenger Vehicles stood at Rs 357.40, after a drop of Rs 4.85 or 1.34 per cent as of 11:20 am.
IndiGo's market capitalisation stood at Rs 2.27 lakh crore, with a standalone price-to-earnings ratio close to 45.
The stock has gained around 9 per cent in the last six months and over 28 per cent in 2025 to date.
Tata Motors Passenger Vehicles’ market capitalisation stood at Rs 1.32 lakh crore, with a P/E ratio exceeding 1.4.
On October 14, the shares of PV maker were listed at Rs 400 on the NSE, marking a drop of 39.5 per cent (or Rs 260.75 per share) from its previous closing price after a special pre-open session on stock exchanges.
Earlier this month, IndiGo approved a capital investment of $820 million (about Rs 7,294 crore) to acquire aviation assets, thereby enabling ownership of aircraft.
The fund infusion is proposed to be made during FY 2025-26, in multiple tranches.
BSE had announced several additions and exclusions from its key indices such as Max Healthcare Institute replacing IndusInd Bank on the BSE Sensex 50 starting December 22. Canara Bank, AU Small Finance Bank, Punjab National Bank, and Union Bank of India will be included in the BSE Bankex starting December 26, the stock exchange said in a statement.
--IANS
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