Mumbai: The shares of IRB Infrastructure and InterGlobe Aviation, which operates IndiGo took a hit on Tuesday.
Interglobe Aviation share price
The IndiGo share price dropped today morning after news started doing rounds that Interglobe Enterprises will sell a stake worth $394 million in Interglobe Aviation, the parent company of Indigo Airlines.
The Interglobe Aviation share price was trading in red, down over 3 per cent at Rs 4,401 on June 11 at 10:16 am on NSE.
Reports stated that the sale’s floor price is set at Rs 4,266 per equity share. Citi is said to be the investment banker for this deal. Interglobe Enterprises holds a 37.75 per cent stake in Interglobe Aviation.
InterGlobe Aviation Ltd reported said its net profit surged 106 per cent year-on-year (YoY) to Rs 1,894.80 crore in Q4 of 2023-24, while the revenue from operations appreciated 25.9 per cent YoY to Rs 17,825.30 crore for the last quarter. IndiGo has announced to introduce business class seating in its flights this year to provide more options to flyers.
IRB Infrastructure share price
IRB Infrastructure Developers Ltd shares were trading in Red after it plummeted over 10 per cent in today’s trade. The stock was in Red after reports claimed that Cintra, a toll road subsidiary of the Dutch major Ferrovial, offloaded up to a 5 per cent stake in the company via block deal. IRB shares were trading at Rs 65.33 per equity share at 10:42 am today.
IRB Infrastructure Developers is India’s leading and the largest integrated and first multi-national transport infrastructure developer in roads and highways sector.
In May 2024, IRB declared its Q4 Results 2024 and reported a 45 per cent year-on-year jump in net profit to Rs 188.9 crore. According to quarterly earnings data released by the company, the company reported a year-on-year core revenue growth of 27 per cent to Rs 2,061 crore.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
The shares of IRB Infrastructure and InterGlobe Aviation declined on Tuesday. IndiGo airline administered by Interglobe Aviation. IRB is one of India’s leading Integrated Multinational Transport Infrastructure Developer in highways sector. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
