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InterGlobe Aviation skids on report DGCA grounds A320neo aircraft

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fell 1.62% to Rs 1,256.45 at 10:52 IST on after India's regulator reportedly grounded the company's eight planes with faulty & Whitney engines.

Meanwhile, the Sensex was up 88.06 points, or 0.26% to 34,006.

On the BSE, 18,000 shares were traded in the counter so far compared with average daily volumes of 1.28 lakh shares in the past two weeks. The stock had hit a high of Rs 1,262.50 and a low of Rs 1,238 so far during the day. The stock hit a 52-week high of Rs 1,358.65 on 27 February 2018. The stock hit a 52-week low of Rs 874.65 on 15 March 2017.

According to media reports, the of Civil (DGCA) on Monday, 12 March 2018, grounded a few currently operating in the country due to the ongoing & Whitney engine issue. DGCA asked to ground eight of its until further notice.

The civil aviation authority has reportedly said that no concrete proposal has been given by & Whitney yet on when the engine woes will be resolved. All the grounded A320neo are fitted with Pratt & Whitney engines, reports added.

Aviation has yet to reply to a stock exchange notice issued late on Monday, 12 March 2018, seeking clarification on the

Net profit of Aviation rose 56.39% to Rs 762.03 crore on 23.89% rise in net sales to Rs 6177.88 crore in Q3 December 2017 over Q3 December 2016.

is the operator of IndiGo, which is India's largest with a market share of 39.7% as of January 2018.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 11:00 IST
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