InterGlobe Aviation shares fall 4.5% after co-founder Rakesh Gangwal resigns
IndiGo share price: Shares of InterGlobe Aviation, the owner of budget carrier IndiGo, fell nearly 4.5 per cent in the early trade on Monday after the company announced that its co-founder Rakesh Gangwal would resign from the board and has plans to cut his stake in the airline.
The IndiGo stock fell 4.47 per cent to Rs 2,025.45 apiece on the BSE while on the National Stock Exchange (NSE), it crashed as much as 4.32 per cent to Rs 2,025.20 per share.
On Friday post market hours, IndiGo co-promoter Rakesh Gangwal resigned with immediate effect from the board of directors of InterGlobe Aviation where he served as a non-executive, non-independent director.
