Mumbai/IBNS, April 8 -- Shares of InterGlobe Aviation Ltd., the parent company of IndiGo airlines, surged nearly 11% on Wednesday, media reports said.

This marked the company's biggest single-day gain since February 2022, making it one of the top gainers on the Nifty 50.

The stock has risen over 20% in the last six sessions, with five of them ending in positive territory.

Why did the stock rise?

The directive, applicable to all domestic flights, will remain in effect for three months.

The move follows the Centre's directive in view of the ongoing West Asia conflict, aimed at easing cost pressures on airlines.

IndiGo appoints new CEO

Meanwhile, IndiGo's board last week appointed William Walsh as its new Chief Executive Officer.

Wal...