India to probe IndiGo stock drop before company filing

India’s market regulator is examining the cause for the worst drop in 7 months in InterGlobe Aviation’s shares before the operator of IndiGo announced the resignation of its president, according to people with knowledge of the matter. The Securities and Exchange Board of India is investigating a 6.1% tumble in the stock April 27, as well as the reasons behind the delay in the disclosure of Aditya Ghosh’s exit, the people said. Ghosh resigned as a director April 26, a day before the company made the announcement. The watchdog is reviewing stock-price data to determine if market-sensitive information was disseminated properly or if insider-trading rules were breached, the people said. SEBI will also seek details of connected persons who were aware of Ghosh’s move, they said. <br/>