Shares of InterGlobe Aviation gained around 6 percent in the morning trade as a relief rally was seen on the stock post the management’s clarification.
The company, in a filing to the exchanges, clarified that the management did not receive any Summons from the Enforcement Directorate with respect to the FEMA violation case.
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Its shares had fallen 8 percent to close at Rs 1,136.15 on Wednesday as investors turned cautious of summons by investigating agencies to its top management.
Source had told CNBC-TV18, the Enforcement Directorate has summoned the top management of the carrier in a case related to violations related to foreign exchange management act (FEMA).
At 9:21 am, the stock was trading at Rs 1,171, up 3 percent, on the BSE.
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