Sunday 19 May 2019
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business-standard - 3 days ago

InterGlobe Aviation stock tanks 9 pc amid reports of rift between promoters

Shares of InterGlobe Aviation dropped nearly 9 per cent Thursday amid reports of rift between promoters of IndiGo. The scrip tumbled 8.82 per cent to close at Rs 1,466.60 on the BSE. During the day, it tanked 9.82 per cent to Rs 1,450.50. At the NSE, shares plummeted 8.40 per cent to close at Rs 1,475. Following the plunge in the scrip, the company s market valuation dropped by Rs 5,455.89 crore to Rs 56,377.11 crore on the BSE. In terms of traded volume, 3.70 lakh shares were traded on the BSE and over 70 lakh shares on the NSE during the day. IndiGo CEO Ronojoy Dutta Thursday told employees that the airline s growth strategy remains unchanged and is firmly in place, amid reports of rift between two promoters of the country s largest carrier. I want to assure you that the growth strategy of the airline remains unchanged and firmly in place, and the management is fully charged by the board to implement it, Dutta said in a communication to employees. Without directly mentioning ...


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