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Economic Times
13-06-2025
- Business
- Economic Times
IndiGo shares plunge 6% as promoter plans $1 billion stake sale
Shares of InterGlobe Aviation, which operates IndiGo, dropped nearly 6% to Rs 5,175 on Friday after reports suggested promoter InterGlobe Enterprises may sell around 4% stake via block deals. ADVERTISEMENT Sources told CNBC-TV18 that the promoter group is looking to raise about $1 billion through the sale. InterGlobe Enterprises currently holds a 35.70% stake in the company. The move follows ongoing stake reductions by co-promoter Rakesh Gangwal, who has sold shares worth Rs 40,000 crore since 2022. Gangwal now holds just 7.8% in the airline. IndiGo declined to comment on the development. 'We won't comment on the query,' the airline told of IndiGo had hit a 52-week high of Rs 5,474 earlier this week, supported by strong Q4 earnings and bullish commentary on international capacity expansion. However, Friday's slide reflects investor caution amid the overhang of large promoter offloading. Also Read: Why stock market is falling today? 4 key factors behind Sensex's 1,100-point crash, Nifty below 24,650 ADVERTISEMENT Meanwhile, investor caution also deepened after an Air India Boeing 787-8 Dreamliner crashed shortly after takeoff from Ahmedabad en route to London, killing all 241 onboard. Preliminary visuals showed the aircraft losing altitude and crashing into a residential area. The cause is under geopolitical tensions added further pressure. Israel launched strikes on Tehran, targeting nuclear and missile facilities in what it called a 'preemptive strike.' Iran confirmed the death of a top Revolutionary Guards commander, and Israel declared a state of emergency fearing retaliation. U.S. Secretary of State Marco Rubio termed the strike a "unilateral action," saying the U.S. was not involved. ADVERTISEMENT The conflict pushed Brent crude up nearly 10% intraday to $78.50 a barrel — its highest level since January — and up 12% for the week. WTI also surged over 9% to $74.47. 'This could have deep economic consequences if tensions escalate further,' said Dr. V K Vijayakumar of Geojit Financial Services. 'A retaliatory move like blocking the Strait of Hormuz could squeeze global supply and lift oil prices even higher.' ADVERTISEMENT With aviation fuel making up a significant share of airline costs, the crude spike amplified concerns over margins, adding to the sector's selloff. Also Read: SBI, Bank of Baroda among 10 banks that saw NPA decline in Q4 (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
13-06-2025
- Business
- Time of India
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. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
13-06-2025
- Business
- Time of India
IndiGo shares plunge 6% as promoter plans $1 billion stake sale
IndiGo shares: Sources told CNBC-TV18 that the promoter group aims to raise approximately $1 billion through the sale. Currently, InterGlobe Enterprises holds a 35.70% stake in the company. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of InterGlobe Aviation , which operates IndiGo, dropped nearly 6% to Rs 5,175 on Friday after reports suggested promoter InterGlobe Enterprises may sell around 4% stake via block told CNBC-TV18 that the promoter group is looking to raise about $1 billion through the sale. InterGlobe Enterprises currently holds a 35.70% stake in the move follows ongoing stake reductions by co-promoter Rakesh Gangwal, who has sold shares worth Rs 40,000 crore since 2022. Gangwal now holds just 7.8% in the declined to comment on the development. 'We won't comment on the query,' the airline told of IndiGo had hit a 52-week high of Rs 5,474 earlier this week, supported by strong Q4 earnings and bullish commentary on international capacity expansion. However, Friday's slide reflects investor caution amid the overhang of large promoter investor caution also deepened after an Air India Boeing 787-8 Dreamliner crashed shortly after takeoff from Ahmedabad en route to London, killing all 241 onboard. Preliminary visuals showed the aircraft losing altitude and crashing into a residential area. The cause is under geopolitical tensions added further pressure. Israel launched strikes on Tehran, targeting nuclear and missile facilities in what it called a 'preemptive strike.' Iran confirmed the death of a top Revolutionary Guards commander, and Israel declared a state of emergency fearing retaliation. U.S. Secretary of State Marco Rubio termed the strike a "unilateral action," saying the U.S. was not conflict pushed Brent crude up nearly 10% intraday to $78.50 a barrel — its highest level since January — and up 12% for the week. WTI also surged over 9% to $74.47.'This could have deep economic consequences if tensions escalate further,' said Dr. V K Vijayakumar of Geojit Financial Services . 'A retaliatory move like blocking the Strait of Hormuz could squeeze global supply and lift oil prices even higher.'With aviation fuel making up a significant share of airline costs, the crude spike amplified concerns over margins, adding to the sector's selloff.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Reuters
13-06-2025
- Business
- Reuters
India's IndiGo promoter likely to sell part of stake via block deals, CNBC-TV18 says
June 13 (Reuters) - Indian airline IndiGo's ( opens new tab promoter group, Interglobe Enterprises, will likely sell about a 4% stake through block deals and is looking to raise around $1 billion from the sale, news channel CNBC-TV18 reported on Friday, citing sources. Interglobe Enterprises holds a 35.71% stake in IndiGo, as per data from exchanges. Reuters was not able to confirm the report independently. IndiGo and Interglobe Enterprises did not immediately respond to Reuters' requests for comment. IndiGo's co-founder Rakesh Gangwal sold a 5.7% stake worth $1.36 billion in the low-cost carrier through a block deal, Reuters reported on May 27. Shares of the airline were down all through Friday, a day after more than 240 people were killed when an Air India plane bound for London crashed moments after take-off in India's Ahmedabad city. ($1 = 86.0990 Indian rupees)
Time of India
04-06-2025
- Business
- Time of India
Rs 43,000 crore selloff by promoters! Insider exits flash warning sign for Nifty bulls
Just as Nifty notched a hat-trick of monthly gains with a 12% surge through May, a parallel trend has emerged: India Inc's promoters are cashing out. In what could be viewed as a potential red flag for the ongoing market rally to accelerate further, promoters and other large shareholders have offloaded shares worth a staggering Rs 43,400 crore in May alone. This comes at a time when foreign institutional investors (FIIs) and domestic institutional investors (DIIs) have together pumped in nearly Rs 80,000 crore into Indian equities last month, alongside steady retail and HNI buying. The sell-off, led by high-profile block deals, is raising eyebrows about insider sentiment, especially with valuations running high. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo Topping the list is Rakesh Gangwal , co-founder of IndiGo , who sold shares worth over Rs 11,560 crore on May 27 in a fresh round of stake trimming in InterGlobe Aviation . A day later, British American Tobacco (BAT) offloaded a 2.5% stake in ITC through its subsidiary for around Rs 12,900 crore, one of the largest single-day exits in recent memory, shows data compiled from Prime Database. Earlier in the month, Singtel sold Bharti Airtel shares worth Rs 12,880 crore on May 16. Meanwhile, General Atlantic Singapore Fund exited KFin Technologies in a Rs 1,790 crore deal, and Sajjan Jindal Family Trust pared its stake in JSW Infrastructure for Rs 1,210 crore. Live Events Prime Database shows promoter selling activity also surfacing in smaller firms like Gravita India, PG Electroplast, TD Power, Paras Defence, and Ami Organics, fanning concerns among market watchers. Block deals continued this week as well with action seen in Zinka Logistics, Aptus Value Housing Finance, Yes Bank and Ola Electric on Tuesday. PE investor True North and others sold over $175 million worth of Niva Bupa Health Insurance shares on Monday. Siddharth Khemka of Motilal Oswal Financial Services pointed to liquidity dynamics behind the move. 'If FIIs want to buy, and DIIs and retail don't want to sell, then who provides supply? The promoters are stepping in. They want liquidity – they can't call up individual investors to offload 3% blocks. When institutional money is present, that's when promoter selling comes into play,' he said, adding that block deals and IPOs are likely to surge again as markets stabilize. Also read | India crowned top destination for stock compounders, says BofA; lists 9 structural themes Anshul Saigal, founder of Saigal Capital, cautioned against over-interpreting promoter sales. 'There can be multiple reasons to sell – like the Whirlpool case where the parent is in distress. I pay less attention to promoter sales and more to purchases. There's only one reason to buy – the belief that the stock will go up.' However, Sandip Sabharwal, market expert, flagged a possible contradiction. 'If companies are guiding for strong growth but promoters are dumping large volumes at high valuations, that's a dichotomy. It raises questions. I'm more concerned about small and midcap promoter sales than the larger ones like InterGlobe or BAT's sale in ITC. But even large-cap exits pull liquidity from the system and cap market upside.' While the promoter exit wave may be driven by individual circumstances – ranging from global financial pressures to portfolio rebalancing – the timing is unmistakable. As the market roars ahead, insiders are cashing in. Whether it's a canary in the coal mine or just business as usual remains to be seen, but for now, Nifty bulls may want to tread with a touch more caution. Also read | Rs 15 lakh crore in net profit! India Inc's top 500 cos break records in FY25 despite downgrades ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
