Shares of India’s largest airline fell about 3% after reports of selling shares

2023-06-12 16:25:31

The company’s shares fell by more than 3 percent on Monday, while the main index of the Indian Stock Exchange rose by 0.2 percent.

The company’s shares – which have risen by more than 19 percent since the beginning of the year – fell following a report revealed the sale of between 5% and 8% of the shares by the family of co-founder Rakesh Ganjwal, with a value of up to $ 910 million.

It is reported that Gangwal had previously reduced his stake in the company by more than 4 percent last February, following disputes over the company’s operating system that began in 2020.

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