IndiGo rallies 4% to hit fresh high, stock zooms 79% thus far in FY24
Shares of InterGlobe Aviation, which operates India’s biggest airline IndiGo, rallied 4 per cent on BSE to hit a new high of Rs 3,430 in Tuesday’s weak intra-day trade on strong growth prospects.
The stock surpassed its previous high of Rs 3,339 touched on March 19. In comparison, the S&P BSE Sensex was down 0.4 per cent at 72,559 at 12:18 pm.
On March 11, company’s co-founder Rakesh Gangwal divested a 5.83 per cent stake in Indigo through bulk deals to mop up Rs 6,786 crore.
He sold 22.5 million shares at Rs 3,016 a piece, data from the exchanges showed. Morgan Stanley Asia picked up 2.1 million shares worth Rs 633 crore. The names of the other buyers were not known.
