Interglobe Aviation: Buy on a dip for the long haul, say analysts

The weakness in the stock, analysts say, is a knee-jerk reaction to the news of its president, Aditya Ghosh, unexpectedly quitting on Friday. Going ahead, oil prices, Q4FY18 results will dictate trend

Interglobe Aviation, the parent company of IndiGo, ended 0.6 per cent lower at Rs 1,400 levels on the NSE, reacting to the news of its president, Aditya Ghosh, unexpectedly quitting the company in post market hours on Friday. By comparison, the Nifty50 index gained 0.4 per cent to 10,739 levels. 

Analysts say the fall as a knee-jerk reaction to the news. Surprisingly the stock, as if anticipating the move, had lost over 6 per cent in trade ahead of the announcement on Friday.

“The change in management will have a limited impact on the stock. Naming of a successor will