Equity MFs press exit button on IndiGo despite spike in passenger growth

Several top fund managers have exited the counter of InterGlobe Aviation, which operates the country's largest airline by market share, IndiGo.

Put together, fund managers sold shares worth Rs 120 crore of IndiGo in June. This came even as the airline recorded the fastest domestic passenger growth rate of 26 per cent.

HDFC Mutual Fund, UTI MF and DSP BlackRock MF completely liquidated their holdings in IndiGo in June, amid its shares trading near record levels. On Friday, shares of IndiGo closed at Rs 1,241.7, around four cent below its one-year high of Rs 1,292, touched earlier this month.

"We have been investors