GET Stock QuotesNews18 APP
News18 English
»
1-min read

InterGlobe Aviation Shares Face High Volatility After Ghosh Stepped Down as IndiGo President

IndiGo, which has a fleet of 160 aircraft, is the country's largest airline with a market share of nearly 40 percent. It operates around 1,000 flights daily.

PTI

Updated:April 30, 2018, 8:35 PM IST
facebookTwittergoogleskypewhatsapp
InterGlobe Aviation Shares Face High Volatility After Ghosh Stepped Down as IndiGo President
Image for representation only.
Loading...
New Delhi: Shares of InterGlobe Aviation on Monday witnessed heavy volatility and settled for the day marginally down on the bourses following the announcement that Aditya Ghosh will step down as IndiGo President.

Following the announcement, shares of the company on Monday opened on a weak note at Rs 1,370.00, then fell to an intra-day low of Rs 1,361.75 and a high of Rs 1,438.95. The stock finally settled for the day at Rs 1,399.70, down 0.50 percent. Similar movement was seen on the NSE as well, where the stock opened at Rs 1,360.00, touched a high of Rs 1,443.45, a low of Rs 1,357.25 and finally ended the day at Rs 1,400, down 0.55 percent.

On April 27, IndiGo announced that Ghosh will step down as President and is likely to be replaced by one of its former executives Gregory Taylor. It further said that Rahul Bhatia, a promoter of the company, has been appointed as the interim CEO. Ghosh has stepped down as Whole Time Director of InterGlobe Aviation, the parent of IndiGo, effective from April 26 while his resignation as President would come into effect from July 31.

InterGlobe Aviation said Taylor, a former executive at the airline, has been appointed as a Senior Advisor and would report directly to Bhatia. "In the coming months, the Board will consider the appointment of Greg as President and CEO of the company, subject to receiving the necessary regulatory approvals and paperwork," InterGlobe said in a statement.

Ghosh, who has been with the airline for ten years, said it has been a most satisfying task building IndiGo. "It is now time for me to step off the treadmill and sometime in the near future embark on my next adventure. I wish all my colleagues at IndiGo the very best as they move on to the next phase of growth," he said.

IndiGo, which has a fleet of 160 aircraft, is the country's largest airline with a market share of nearly 40 percent. It operates around 1,000 flights daily.
| Edited by: Tarun Bhardwaj
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,101.30 -4.34
Indiabulls Hsg 653.80 -17.10
Dewan Housing 210.55 -10.75
Yes Bank 217.90 -6.04
Bajaj Finance 2,140.50 -0.47
Company Price Change %Gain
Sudarshan Chem 385.05 2.64
Indiabulls Hsg 654.25 -17.06
Reliance 1,101.65 -4.11
Dewan Housing 211.80 -10.37
Yes Bank 217.70 -6.06
Top Gainers
Company Price Change %Gain
ITC 289.45 1.05
HUL 1,578.40 1.05
Kotak Mahindra 1,198.95 1.95
HPCL 215.90 4.15
Wipro 323.15 0.00
Company Price Change %Gain
Sun Pharma 608.40 2.52
Kotak Mahindra 1,199.55 1.83
Vedanta 211.15 1.51
HUL 1,579.20 1.16
ITC 288.45 0.73
Top Losers
Company Price Change %Gain
Indiabulls Hsg 653.80 -17.10
Yes Bank 217.90 -6.04
Bajaj Finance 2,140.50 -0.47
Hero Motocorp 2,712.75 -3.38
BPCL 283.55 -0.56
Company Price Change %Gain
Yes Bank 217.70 -6.06
HDFC 1,661.30 -4.32
Reliance 1,101.65 -4.11
Hero Motocorp 2,711.00 -3.70
Infosys 682.60 -3.11

Live TV

Loading...
Loading...