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IndiGo's Dream Run Ends: Market Value Plunges
14 Jan
Summary
- IndiGo's market value surged to INR2 lakh crore.
- The airline briefly became the world's most valuable.
- Slowing profits and promoter exits now loom.
Around a year ago, IndiGo, India's dominant airline, began an impressive period of rapid growth. This expansion coincided with a significant increase in its market value, reaching INR2 lakh crore and positioning it among the nation's most valuable corporations. For a brief period in April last year, IndiGo even surpassed Delta to hold the title of the world's most valuable airline.
This period of success is now facing challenges. IndiGo is experiencing a decline in profits, casting a shadow over its recent achievements. The airline's financial performance has taken a downturn, raising concerns among investors and stakeholders.
Adding to the complexities, co-promoter Rakesh Gangwal is accelerating his departure from the company. This impending exit, coupled with slowing profits, signals a potential shift in IndiGo's corporate landscape.
