IndiGo share price today: InterGlobe Aviation stock tanks 6%; reports suggest promoter planning $1 billion stake sale

Earlier this week, IndiGo’s shares reached a 52-week peak of Rs 5,474, bolstered by robust Q4 performance.

IndiGo share price today: InterGlobe Aviation’s stock, the parent company of IndiGo, fell by approximately 6% to Rs 5,175 on Friday following reports indicating InterGlobe Enterprises’ potential sale of roughly 4% ownership through block transactions.According to a CNBC-TV18 report, the promoter group aims to generate approximately $1 billion from this stake sale. At present, InterGlobe Enterprises maintains a 35.70% ownership stake in the organisation.This development follows co-promoter Rakesh Gangwal’s continuous reduction in shareholding, having disposed of shares valued at Rs 40,000 crore since 2022. Gangwal presently retains a 7.8% stake in the airline, an ET report said.Earlier this week, IndiGo’s shares reached a 52-week peak of Rs 5,474, bolstered by robust Q4 performance and positive outlook regarding international capacity growth. However, Friday’s decline indicates investor wariness regarding substantial promoter share sales.Investor sentiment also deteriorated following a tragic Air India Boeing 787-8 Dreamliner accident near Ahmedabad during its London-bound flight, resulting in several fatalities. The ET report said that the situation worsened due to heightened international conflicts. Israeli forces conducted operations against Iran’s nuclear and missile installations, describing it as a “preemptive strike.” The strike caused Brent crude prices to surge by approximately 10%, reaching $78.50 per barrel, marking its peak since January and recording a 12% weekly increase. Similarly, WTI experienced a rise exceeding 9%, reaching $74.47.Dr. V K Vijayakumar of Geojit Financial Services said: “This could have deep economic consequences if tensions escalate further. A retaliatory move like blocking the Strait of Hormuz could squeeze global supply and lift oil prices even higher.”The substantial increase in crude prices particularly affected the aviation sector, as fuel expenses constitute a major operational cost, leading to increased pressure on airline stocks.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)