Indigo shares are in focus in Thursday's trade (August 29) was last down nealry 2 per cent at Rs 4,770 as the company's promoter may offload 10,300 crore stake in the company via a block deal. Reports suggest that the floor price for the deal is pegged at Rs 4,593 per share, a 5.5 per cent discount in comparison to the last closing price.

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Lately, the stock has been making new highs as it is foraying into new areas of growth. The company's stock in the previous day hit a record high of Rs 4,944.6 per share on the BSE.

The company's promoter Rakesh Gangwal has said that he will pare stake in the entity gradually.

A total of 5.8 per cent stake or 2.25 crore shares in the air carrier is expected to be pared in the block deal via the company's promoter and Co-founder Rakesh Gangwal.

Jefferies double upgrades Interglobe Aviation 

 
Global brokerage Jefferies has double upgraded the stock to 'buy' from the previous 'hold' rating and a target of Rs 5,225, suggesting stil higher gains of 7 per cent from the last close. The rationale for the upgrade as given by the brokerage is that the company has performed well on both the operational as well as financial parameters. 
 
Also, the company has been both the supply as well as capacity related concerns very diligently.
 
With the company's launch of the Business class, the monopoly of Air India and Vistara has been done away with, it added. 
 
Indigo's share price performance 
 
The stock in a week's time has gained over 13 per cent and has in a year galloped 96 per cent.