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  5. IndiGo shares rally 4%: Why is InterGlobe Aviation stock rising for a second straight session?

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IndiGo shares rally 4%: Why is InterGlobe Aviation stock rising for a second straight session?

image Ahana Chatterjee
By Ahana Chatterjee

3 min read | Updated on November 03, 2026, 12:38 IST

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SUMMARY

The rally in IndiGo shares can also be attributed to easing crude oil prices, which were trading around $106 per barrel in the afternoon session.

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Over a month’s time, IndiGo shares have advanced 2.3%, while for a six-month period, it has surged 18%. | Image: Shutterstock

Shares of IndiGo operator InterGlobe Aviation surged as much as 4% to touch an intraday high of ₹5,120.10 apiece on Tuesday, November 3, a day after the Supreme Court refused an urgent hearing on a plea highlighting steep increases in domestic airfares during the 2026 Diwali festive season.
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According to media reports, the plea also seeks interim directions to cap fares during the current festive season and the year-end festival season. The PIL is currently listed to be heard on November 16, 2026.

Meanwhile, this week the central government has notified new rules for the aviation sector, allowing it to intervene in airline ticket prices in extraordinary situations and in the public interest, following concerns over high airfares in the backdrop of elevated crude oil and aviation turbine fuel (ATF) prices.

The Civil Aviation Ministry, under the Bharatiya Vayuyan Niyam, 2026, notified that the government can issue directions to airlines on fares if it considers intervention necessary in an extraordinary situation. The notification further added that such directions must be proportionate to the circumstances and remain in force only for the specified period.

The rally in IndiGo shares can also be attributed to easing crude oil prices. Data showed that global crude oil prices were trading around $106 per barrel (bbl), in comparison to the previous market close, as commodity market investors focused on the latest reports about the United States attacking Qeshm Island, Iran, on Monday evening, reported the news portal WSJ, citing officials aware of the development.

IndiGo’s international expansion plans

Chief executive officer Willie Walsh on November 2 in a media interaction said that the airline expects to have a total of 14 narrow-body A321 XLR aircraft by the end of December 2027, as IndiGo seeks to expand international operations.

Currently, the airline has 4 A321 XLRs and another one will be added by year-end. These planes have a longer range that will help the carrier connect more overseas destinations.

At a conference in the national capital, Walsh also stressed that the airline's focus will remain on short-haul operations and that it has a very efficient cost base.

On Monday, Walsh also said that the airline industry’s situation is challenging, but the firm will continue to navigate through it. The Indian aviation market would perform much better if airport charges and taxes were lower, he said, amid a challenging operating environment for airlines due to elevated fuel prices and rupee depreciation.
Also read: Marico shares jump 8% as company raises FY27 growth guidance; analysts highlight strong Q2 results

IndiGo share price trends

At 12:20 PM, InterGlobe Aviation shares were trading at ₹5,048.7 apiece on the National Stock Exchange, gaining 2.62%.

From the beginning of the year, IndiGo shares have declined 1.2%. Over a month’s time, the stock has advanced 2.3%, while for a six-month period, it has surged 18%.

Shares of the firm had hit a 52-week high of ₹ 5,970 on November 24, 2025, and a 52-week low of ₹3,895.20 on March 23, 2026.

According to NSE data, as of November 3, 2026, IndiGo has a total market capitalisation of ₹1.95 lakh crore.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.

About The Author

image Ahana Chatterjee
Ahana Chatterjee is a business journalist with 7 years of experience across several leading news platforms. At Upstox, she covers stock markets and corporate news.

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