InterGlobe Aviation skids 8% on report of rift between promoters

Thus far in the current calendar year 2019, the stock has outperformed the market, by surging 38 per cent, as compared to a 3 per cent rise in the S&P BSE Sensex till Wednesday.

Shares of InterGlobe Aviation, which runs India's largest budget airline IndiGo, slipped 8 per cent to Rs 1,487 in intra-day trade on the BSE on Thursday on the back of heavy volumes amid reports of rift between the company’s promoters.

According to a business television report, differences have surfaced between Rahul Bhatia and Rakesh Gangwal over managerial control of the firm. The report quoted sources as saying that the two partners have approached different law firms.

Rahul Bhatia currently holds 38 per cent stake in InterGlobe Aviation, the parent company of IndiGo, while Gangwal holds 37 per cent