InterGlobe Aviation drops amid volatility

InterGlobe Aviation lost 0.43% to Rs 820.35 at 15:14 IST on BSE, amid intraday volatility on reports that overseas investment firms are looking for controlling stake in parent company's travel reservation subsidiary.

Meanwhile, the S&P BSE Sensex was down 237.95 points or 0.91% at 25,802.75.

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 32,556 shares in the past one quarter. The stock was volatile. The stock lost as much as 0.43% at the day's low of Rs 820.35 so far during the day. The stock rose as much as 1.93% at the day's high of Rs 839.90 so far during the day.

The stock had hit a record high of Rs 1,395.50 on 1 January 2016 and a 52-week low of Rs 702 on 11 February 2016. It had underperformed the market over the past one month till 23 December 2016, sliding 5.17% compared with the Sensex's 0.04% fall. The scrip had also underperformed the market in past one quarter, declining 10.67% as against the Sensex's 9.17% fall.

The large-cap company has equity capital of Rs 364.58 crore. Face value per share is Rs 10.

As per media reports, few overseas investment firms are competing to acquire a controlling stake in InterGlobe Technology Quotient, the travel reservation arm of InterGlobe Enterprises that runs IndiGo Airlines.

InterGlobe Enterprises is parent company of InterGlobe Aviation. It owned 42.51% in InterGlobe Aviation end September 2016.

InterGlobe Aviation's net profit rose 23.6% to Rs 139.85 crore on 17.9% growth in net sales to Rs 4149.30 crore in Q2 September 2016 over Q2 September 2015.

InterGlobe Aviation is the operator of low cost passenger airline IndiGo

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