New Delhi: Interglobe Aviation shares edged up by about two per cent to Rs 5,953 in early Monday trading after the BSE announced that IndiGo would be added to the 30‑share Sensex on December 22, taking the place of Tata Motors Passenger Vehicles.
The stock of the passenger‑vehicle arm of Tata Motors fell more than one and a half per cent when it was removed from the index, but both stocks had recovered a portion of the decline by 11:20 a.m. Interglobe was trading at Rs 5,853, up Rs 9.50 (0.16 %) while Tata Motors Passenger Vehicles stood at Rs 357.40, down Rs 4.85 (1.34 %) at the same time.
IndiGo’s market cap was Rs 2.27 lakh crore, with a standalone price‑to‑earnings ratio close to 45. Over the past six months the airline’s shares had risen roughly nine per cent, and they were up more than 28 % for the year so far. Tata Motors Passenger Vehicles had a market cap of Rs 1.32 lakh crore and a P/E ratio just over 1.4.
On 14 October, the PV‑maker’s shares opened at Rs 400 on the NSE, marking a 39.5‑per‑cent drop (about Rs 260.75 per share) from the prior close following a special pre‑open session.
Earlier this month, IndiGo approved a capital infusions of $820 million (approximately Rs 7,294 crore) to acquire aviation assets, enabling it to own aircraft. The investment will be made in FY 2025‑26 in several tranches.
The BSE also announced other index changes, such as Max Healthcare Institute replacing IndusInd Bank in the BSE Sensex 50 from December 22. Beginning 26 December, Canara Bank, AU Small Finance Bank, Punjab National Bank and Union Bank of India will join the BSE Bankex, according to a statement from the exchange.
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