The InterGlobe Aviation (IndiGo) stock extended its losses for the second consecutive session, losing 13 per cent on a cumulative basis. The spat between promoters could see the stock drop further before it stabilises, said analysts.
While near-term triggers are the June quarter numbers, brokerages have advised against taking fresh exposure to the stock despite the sharp correction. An analyst at a domestic brokerage said: “Unless there is visibility on the outcome of the feud between the promoters, investors should refrain from taking exposure. Given the fight for control, ...
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