New Delhi, April 8 -- Shares of InterGlobe Aviation surged sharply on Wednesday, closing over 8 per cent higher, as a steep fall in global crude oil prices and easing geopolitical tensions in the West Asia triggered a strong rally in aviation stocks.
At 3.30 p.m., the InterGlobe Aviation stock was at Rs 4,614, up Rs 345.20 or 8.09 per cent, after touching an intra-day high of Rs 4,744, reflecting robust investor confidence in the airline's cost outlook.
The rally comes amid signs of de-escalation in tensions involving the United States and Iran, which have helped calm fears of prolonged disruption in global energy supplies.
The biggest trigger behind the surge was the sharp correction in global oil prices.
Benchmark Brent Crude Oil plun...