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This Article is From Jul 12, 2019

IndiGo Shares Gain Over 2% To Break Three-Day Fall

IndiGo shares opened flat at Rs 1354.90 and rose to as much as Rs 1,388.95, marking an increase of 2.52 per cent from their previous close.

IndiGo Shares Gain Over 2% To Break Three-Day Fall

IndiGo share price today: IndiGo shares traded with large volumes on Friday, July 12

Shares in InterGlobe Aviation - the parent company of the IndiGo airline - rose 2.5 per cent on Friday, breaking a three-day fall which followed a spat between the promoters of the company becoming public. On the National Stock Exchange (NSE), IndiGo's share price jumped 2.55 per cent to hit Rs 1,389.00 apiece at the day's strongest point. On the Bombay Stock Exchange (BSE), IndiGo shares opened flat at Rs 1,354.90 and rose to as much as Rs 1,388.95, marking an increase of 2.52 per cent from their previous close.

Here are 10 things to know about the InterGlobe Aviation (IndiGo) shares:

  1. The matter relates to a spat between the co-founders over payment of rent for the airline's headquarters owned by Mr Bhatia's InterGlobe Enterprises, and crew staying at hotels where InterGlobe Enterprises has a stake.

  2. InterGlobe Aviation CEO Ronojoy Dutta said on Wednesday that the issues between the company's promoters have nothing to do with its functioning. 

  3. "As much it is very important that we all remain focused on running high performance airline," he wrote in a letter to the employees, asking them to continue their work as usual.

  4. IndiGo is the country's largest airline and a rare success story in the challenging aviation industry.

  5. The letter from Mr Dutta to the company's staff came after a spat between the IndiGo co-founders Rakesh Gangwal and Rahul Bhatia became public on Tuesday.

  6. The airline's mission, direction and growth strategy remain unchanged, and firmly in place, the CEO said, seeking to allay employees' concerns.

  7. As of Thursday's closing price, IndiGo shares have declined by Rs 215.4 - or 13.72 per cent - in three consecutive sessions, data from the NSE showed. 

  8. At 2:28 pm, IndiGo shares traded 0.31 per cent higher at Rs 1,359.00 apiece on the BSE, in line with a 0.40 per cent gain in the benchmark Sensex index at the time. 

  9. IndiGo shares traded with large volumes, with 3.3 lakh shares having changed hands as against an average of 2.17 lakh in the past two weeks.

  10. The stock is however up 16.22 per cent so far this calendar year.



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