InterGlobe Aviation shares tank nearly 8 pc

Updated 6:44 PM, 16 May, 2019
Photo: PIxabay

Shares of InterGlobe Aviation Limited dropped nearly 8 per cent on Thursday, amid reports of an alleged rift between the promoters of IndiGo. The scrip tumbled 7.55 per cent to ₹1,487.10 on the BSE.

On NSE, shares tanked 7.73 per cent to ₹1,485.75. On the traded volume front, 1.77 lakh shares were traded on BSE and over 33 lakh shares on the NSE during the morning trade. According to media reports, the founders of the budget carrier — Rahul Bhatia and Rakesh Gangwal — locked horns over strategies and ambitions for the airline.

Promoters hold about 75 per cent stake in InterGlobe Aviation as per March quarter shareholding pattern on the BSE.