New Delhi, March 12 -- New Delhi,

Mumbai :

There were concerns that investors may turn bearish on IndiGo when India's largest airline by market share informed stock exchanges on the evening of 10 March that its chief executive, Pieter Elbers, would step down with immediate effect.

However, on the morning of 11 March, the airline's shares opened about 1% higher and hit an intraday high of Rs.4,466 during mid-day trading, mirroring a broader market rebound. The stock eventually closed 0.7% lower, but still outperformed the Sensex, which ended the day down 1.7%.

Behind the renewed investor faith lies the return of founder and managing director Rahul Bhatia as interim chief executive.

Bhatia, who co-founded the airline with his friend, R...