IndiGo turbulence: Street cautions investors against checking in

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, this will take time to play out. The stock is unlikely to see