IndiGo, Qatar to make strategic announcement on Nov 7

India's largest airline IndiGo and Qatar Airways will make a strategic business announcement on Nov. 7, the two companies said in a statement on Tuesday, sending shares of the budget carrier higher by 3%.

Qatar has in the past shown interest in investing in IndiGo but the Indian budget carrier has resisted.

"We are very interested in IndiGo ... We are talking to IndiGo of doing codeshare, joint flights but not yet an equity stake in the airline," Qatar Airways CEO Akbar Al Baker told Reuters in an interview in August.

IndiGo is planning an aggressive push to more international destinations and the airline's CEO Ronojoy Dutta and Qatar Airways CEO Akbar Al Baker will "talk about the vision and future for both the airlines", they said in the statement.