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The Relative Strength Index of the stock stood at 50.97 on Friday.

Pricing environment has improved in the CV industry. And, the company is focusing on cost reduction initiatives to drive double-digit margins in FY24. CV upcycle is expected to continue during FY24 with an expected MHCV growth of 10%.

A total of 8,017 shares changed hands on the counter till 11:48AM (IST).

I think where IndiGo has been standing out is a very consistent customer promise and we deliver upon that customer promise every day. Courteous and hassle-free service, affordable fares and on-time performance

Promoters held 62.4 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 6.53 per cent and 0.86 per cent, respectively.

On the technical charts, the RSI of the stock stood at 78.19.

Nifty Mid Cap 100 stocks, including Adani Power, Apollo Tyres, and Paytm, have shown a remarkable recovery from their 52-week lows, per data from Trendlyne. Tube Investments of India, for instance, has recovered from its 52-week low of INR1,457.60 to trade at INR2,996.45. Meanwhile, Aditya Birla Capital has risen from a low of INR85.6 to INR177.5. The impressive rebounds indicate their ability to rebound, generating value for shareholders.

The stock quoted a 52-week high price of Rs 2444.75 and a 52-week low of Rs 1660.65.

Breakout of the confined range of a rectangle chartformation is very likely in the near term.

Smallcap companies are stealing the show and driving growth for portfolios of retail investors, with mid and smallcap indices already at record highs. A study by ETMarkets showed the FY23 EPS of 116 smallcaps surged by over 100%, with at least 11 of these companies reporting growth of more than 1,000%. Telecom firm Vindhya Telelinks topped the list, with its EPS increasing 9,488% to Rs 156.37, while multibagger stock Ramky Infrastructure saw a 4,729% spike to Rs 164.83. Analysts recommend investing in small companies with high growth rates and low starting valuations to maximise returns.