Indigo's shares declined by 2% on Tuesday following reports of a stake reduction by its promoter family.
According to a Reuters report, Rakesh Gangwal and The Chinkerpoo Family Trust were identified as the selling shareholders, with Rakesh Gangwal reportedly selling a 5.7% stake in the airline through a block deal valued at approximately $1.36 billion.
The report indicated that the shares were sold at a price of ₹5,230.50.
SEBI-registered analyst Dhwani Patel also highlighted that co-founder Rakesh Gangwal’s decision to offload stake has weighed on the stock’s performance.
On technical charts, the stock experienced a gap-down opening on Tuesday and is poised to retest its 50-day exponential moving average on the downside.
Patel adds that having breached this support, there is potential for the stock to test the 38.2% retracement level around ₹5,000.
She also noted that IndiGo delivered a robust financial performance in the fourth quarter of FY25, with net profit surging 62% year-on-year to ₹3,067 crore, propelled by strong travel demand. Revenue for the quarter climbed 24% to ₹22,152 crore.
Data from Stocktwits shows that retail sentiment remains ‘bullish’ on this counter amid ‘high’ message volumes.
Indigo shares gained 17% year-to-date (YTD).
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