InterGlobe Aviation falls 7% after IndiGo shows interest in Air India

The stock was down nearly 5% to Rs 1,179, falling 7% from its 52-wk high of Rs 1,273 hit on Thursday

InterGlobe Aviation, which operates IndiGo airline, was down nearly 5% to Rs 1,179 on BSE in intra-day trade, extending its Thursday’s fall, after the low-cost carrier has expressed unsolicited interest in buying a stake in national carrier Air India.

The stock has fallen 7.4% from its 52-week high of Rs 1,273 touched yesterday, June 29, 2017.

The company has submitted a letter to the Government of India, with an unsolicited expression of interest (EOI) in the divestment procedure of Air India.

"As the Indian Government embarks on the journey of privatising Air India and given IndioGo track