Stocks

Airline stocks end on mixed note; IndiGo falls over 1%

PTI New Delhi | Updated on May 20, 2019 Published on May 20, 2019

Among the three airlines listed on the exchanges, shares of Jet Airways and SpiceJet gained, while that of InterGlobe Aviation closed in red

Airline stocks on Monday ended on a mixed note, with InterGlobe Aviation slumping over 1 per cent even as markets soared on exit polls showing NDA returning to power. Among the three airlines listed on the exchanges, shares of Jet Airways and SpiceJet gained, while that of InterGlobe Aviation, the parent of IndiGo, closed in the red.

InterGlobe shares fell 1.17 per cent to close at Rs 1,456.75 apiece on the BSE. It had opened at Rs 1,539. On the NSE, the scrip declined 1.48 per cent to end the day at Rs 1,452 after opening at Rs 1,519. Differences have cropped up between the promoters of IndiGo, the country’s largest airline.

Related news: As gulf between promoters widens, IndiGo could be headed to NCLT

In a detailed statement issued on Saturday, InterGlobe had said that in any strong and well-managed company there will always be differences. “And, yes, there may be differences currently on certain matters but the company has a great track record of resolving issues and coming out ahead. If the current differences were to not get resolved, you shall certainly hear about it, however, it serves no purpose speculating about it,” the airline had said.

Shares of shuttered Jet Airways climbed 4.94 per cent to Rs 130.60 on the NSE after opening at Rs 130. The company’s shares jumped 5.88 per cent to close at Rs 131.40 on the BSE. SpiceJet rose 2.90 per cent on the BSE to end the day at Rs 129.55. The scrip is not listed on the NSE.

Sensex soared over 1,422 points and the NSE Nifty surged 421 points after most exit polls showed that NDA is returning to power with a thumping majority in the Lok Sabha elections.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on May 20, 2019
This article is closed for comments.
Please Email the Editor