InterGlobe Aviation loses $1.40 billion in market value in two sessions
Mumbai: Investors of InterGlobe Aviation Ltd, which operates IndiGo, lost over $1.40 billion in market value in the last two sessions, hitting a four-month low after differences between the two founders of India’s largest airline became public.
The stock lost nearly 16.7% in the last two sessions, eroding ₹9,778.36 crore in market value after one of the founders Rakesh Gangwal wrote to the market regulator saying “fundamental governance norms and laws are not being adhered”.
The stock touched a low of ₹1,313.40 a share — a level last seen on 15 March. At 10.04 am, the scrip was trading at ₹1,315.80 on BSE, down 5.9% from its previous close. So far this year, it has gained nearly 16%.
