Interglobe Aviation bounces after clarification

Interglobe Aviation rose 2.14% to Rs 1406.20 after the company denied media reports suggesting violations in corporate governance and listing disclosure norms of the firm.

With reference to news quoting "Sebi finds undisclosed related party transaction in preliminary inquiry," InterGlobe Aviation clarified post market hours on Tuesday (25 February) that the news item is factually incorrect and the company has not received any communication from Sebi in this regard.

The media reported that a preliminary probe by the Securities and Exchange Board of India (Sebi) has suggested violation of certain listing disclosure norms as also of fair corporate governance practices at the company.

Shares of Interglobe Aviation fell 4.68% to Rs 1376.70 on Tuesday.

Interglobe Aviation reported a consolidated net profit surged 167.86% to Rs 495.97 crore on a 25.45% jump in net sales to Rs 9,931.68 crore in Q3 December 2019 over Q3 December 2018.

Interglobe Aviation (Indigo) is among the fastest growing low cost carriers in the world.

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