Shares of InterGlobe Aviation, which operates IndiGo, surged sharply and hit a 10% upper circuit at ₹4,695.60 on the National Stock Exchange on April 8, following a decline in global crude oil prices.
The rally came as crude oil prices fell below $100 per barrel, easing cost pressures for airlines where fuel remains a major expense. Lower fuel prices typically improve profit margins, boosting investor sentiment toward aviation stocks.
On the Bombay Stock Exchange as well, IndiGo shares were locked in the 10% upper circuit, with over 43,000 pending buy orders and no sellers in sight, reflecting strong market demand.
The surge highlights how global oil price movements directly impact airline profitability and investor confidence in the aviation sector.