Amid ED summon report, InterGlobe Aviation shares tank 7.5%, market cap falls Rs 3,536 crore

Shares of InterGlobe Aviation slumped 7.5 per cent today, eroding Rs 3,536 crore from the company’s market valuation, amid reports that Enforcement Directorate (ED) has summoned top management of the company.
However, the company stated that they have not received any such summons. InterGlobe Aviation operates IndiGo. According to media reports, ED has summoned top management of IndiGo for Foreign Exchange Management Act (FEMA) violation.

Shares of the company tanked 7.49 per cent to settle at Rs 1,136.15 on BSE. During the day, it plunged 8.39 per cent to Rs 1,125. At NSE, shares of the company dived 7.50 per cent to close at Rs 1,136.45. Led by the sharp fall in the stock, the company’s market valuation plunged by Rs 3,535.62 crore to Rs 43,674.38 crore.

In terms of equity volume, 1.27 lakh shares of the company were traded on BSE and over 27 lakh shares changed hands at NSE during the day.

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