Shares of InterGlobe Aviation Ltd., parent company of Indigo airlines, slipped nearly 3% in early trade on Tuesday, September 30, as the stock began trading as a Nifty 50 constituent.
The decline came even as the company entered India’s benchmark index, replacing IndusInd Bank alongside Max Healthcare, which took the place of Hero MotoCorp. The changes were announced last month by the Index Maintenance Sub-Committee (Equity) of NSE Indices Ltd as part of its semi-annual review to ensure broader market and sectoral representation.
The stock’s weakness also followed a muted Q1 performance. InterGlobe reported a consolidated net profit of ₹2,176 crore, missing Street estimates of ₹2,484 crore and falling ₹2,728 crore year-on-year.
At the time of reporting, shares remained under pressure despite the index debut, reflecting investor caution over earnings.
