InterGlobe Declines After Dropping Out of Race To Acquire Air India — Shares of the budget carrier snapped its longest winning streak in over a month and fell as much as 2.4 percent, the most since March 19, to Rs 1,413.75.
The airline operator dropped out of the race to acquire the debt-laden Air India, according to its stock exchange notification.
InterGlobe trades at 30.8 times trailing 12-month earnings per share and 21 times its estimates for the coming year.