InterGlobe Aviation down for seventh straight day; hits 52-week low

The stock hit 52-week low of Rs 1,002, falling 11% in past two weeks from Rs 1,122 on July 17, as compared to 1.1% rise in the Sensex.

Shares of InterGlobe Aviation, operator of IndiGo, are trading lower for the seventh straight day, down 2% at Rs 1,002, in otherwise firm market.

The stock is quoting at its 52-week low level, and has dipped 11% from Rs 1,122 on July 17 as media reports suggested that the company has grounded five A320 aircraft in Delhi. In comparison, the S&P BSE Sensex has moved up 1.1% during the period.

“As part of our normal maintenance schedule, a few A320 Neos have been taken out of service,” InterGlobe Aviation said in clarification of the news report.

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