Indian markets opened positive on Monday with NSE Nifty trading 150 points higher. NSE Nifty touched intraday high at 23,806 at the time of publication of this report.

Geojit Financial Services has reiterated a BUY rating for InterGlobe Aviation (IndiGo) with a target price of Rs4,675, projecting a 15% upside from the current market price of Rs4,062.

Indigo Airlines has become the third largest airline in the world in terms of market capitalization. The low-cost Indian airline has been growing at a fast pace and reaching new milestones.

Indigo Airlines stock was in focus after the company announced the biggest order for Airbus A230 planes.

Indigo has confirmed an order for 500 Airbus A230 planes. Indigo is the largest airline in India by market share.

India’s fast growing airline Indigo could finalize its order for 500 A230neo aircrafts from Airbus. As per a Bloomberg report, Airbus could announce the order during Paris Air Show.