{"id":90627,"date":"2023-02-16T13:37:00","date_gmt":"2023-02-16T08:07:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=90627"},"modified":"2023-02-16T14:39:46","modified_gmt":"2023-02-16T09:09:46","slug":"airlines-stock-falls-4-as-promoters-sell-a-part-of-their-stake-via-block-deal","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/airlines-stock-falls-4-as-promoters-sell-a-part-of-their-stake-via-block-deal\/","title":{"rendered":"Airlines stock falls 4% as promoters sell a part of their stake via block deal"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1173140778\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of InterGlobe Aviation Ltd shed by more than 4 percent in the early hours of Thursday and were trading at Rs 1,901. The scrip fell after a huge block deal changed hands on the exchanges.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2557069593\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company&#8217;s promoter, Shobha Gangwal, the wife of IndiGo co-promoter Rakesh Gangwal who holds a total of 2.7 Crore shares or 7.04% stake in the company sold part of her stake in the company.&nbsp;<\/p><p>The promoter sold 1.7 crore shares via a block deal on Thursday. The offer floor price at which the IndiGo stock changed hands was Rs 1,875 per share. The current holding of the promoter now stands around 2.64 percent.&nbsp;<\/p><p>This came after the promoters in September 2022 sold a 2.8% stake in the airline for approximately $250 million. In February 2022, Rakesh Gangwal stepped down from the company&#8217;s board and announced that he would sell his holdings in the airline over about five years.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3329443457\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>InterGlobe Aviation Ltd, the company that owns IndiGo, is the largest Indian low-cost airline in terms of passengers carried and fleet size.&nbsp;<\/p><p>In Q3FY23, the aviation company reported total revenue of Rs 14,932.97 Crore, which increased 61 percent Year on Year from Rs 9,294.77 Crore and 19 percent Quarter on Quarter from Rs 12,497.59 Crore.&nbsp;<\/p><p>The company posted a profit of Rs 1,422.6 Crore in the period after posting losses for 3 preceding quarters. The IndiGo parent posted a profit of Rs 129.79 Crore in Q3FY22.&nbsp;<\/p><p><strong>Prabhudas Lilladher is bullish on InterGlobe Aviation and has recommended a \u2018Buy\u2019 rating on the stock with a target price of Rs 2,500 per share representing an upside of 31% from the current levels.&nbsp;<\/strong><\/p><p>InterGlobe Aviation (IndiGo) reported the highest-ever quarterly revenue of Rs 149 bn driven by seasonality (load factor at 85% vs 79% in 2Q), better yields (Rs 5.37, +6% QoQ), and a 10% QoQ increase in cargo revenue. In Q4, IndiGo expects relatively stable fuel costs, as crude cost declined 7% in 3Q. Mgnt. guided for a 15%+ capacity addition in FY24, the brokerage highlighted.&nbsp;<\/p><p><strong>Written by Anoushka Roy<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-1229532931\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-2826762232\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of InterGlobe Aviation Ltd shed by more than 4 percent in the early hours of Thursday and were trading at Rs 1,901. The scrip fell after a huge block deal changed hands on the exchanges.&nbsp; The company&#8217;s promoter, Shobha Gangwal, the wife of IndiGo co-promoter Rakesh Gangwal who holds a total of 2.7 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":48867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-90627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Airlines stock falls 4% as promoters sell a part of their stake via block deal - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"In Q3FY23, the aviation company reported total revenue of Rs 14,932.97 Crore, which increased 61 percent Year on Year from Rs 9,294.77 Crore and 19 percent Quarter on Quarter from Rs 12,497.59 Crore.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/airlines-stock-falls-4-as-promoters-sell-a-part-of-their-stake-via-block-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Airlines stock falls 4% as promoters sell a part of their stake via block deal\" \/>\n<meta property=\"og:description\" content=\"In Q3FY23, the aviation company reported total revenue of Rs 14,932.97 Crore, which increased 61 percent Year on Year from Rs 9,294.77 Crore and 19 percent Quarter on Quarter from Rs 12,497.59 Crore.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/airlines-stock-falls-4-as-promoters-sell-a-part-of-their-stake-via-block-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-16T08:07:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-16T09:09:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/06\/Airlines-Parked-Cover-Image-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/06\/Airlines-Parked-Cover-Image-1.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/airlines-stock-falls-4-as-promoters-sell-a-part-of-their-stake-via-block-deal\/\",\"url\":\"https:\/\/tradebrains.in\/features\/airlines-stock-falls-4-as-promoters-sell-a-part-of-their-stake-via-block-deal\/\",\"name\":\"Airlines stock falls 4% as promoters sell a part of their stake via block deal - 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