The shares of InterGlobe Aviation climbed up by 5.28% in the morning trade on Friday. This surge was seen as the airliner received its first Airbus A320 Neo aircraft. At 11:39 am the shares of InterGlobe Aviation were trading at 3.85% up at Rs 836.50. The scrip opened at Rs 822.75 and touched a high of Rs 848 and a low of Rs 813. The share price finally closed at Rs 821.75 i.e. 2.02% up.
The company is expecting to increase its fleet size by 22.4% by the end of the financial year 2017. The traders have said that A320 Neo is more fuel efficient and it will help in margin improvement for InterGlobe. The stock had fell sharply this year when a report came that Airbus will delay the delivery of Airbus A320 Neo to InterGlobe.
For the quarter ended Dec 2015, the company made a net profit of 657.29 crore, 23.65% up, against Rs 531.57 crore in the corresponding quarter 1 year back. According to JM Financial, InterGlobe Aviation (Indigo) is most likely to witness maximum fleet growth over the period FY17/18E. It will also witness further increase in its market leader position upwards of nearly 36% market share in the same period.