Shares in Interglobe Aviation came crashing down again, dropping another 5 per cent in trade. Investors continue to be disappointed with the company's quarterly results.
The shares dropped as much as 20 per cent on Friday and were down another 5 per cent in trade today. The stock was last quoting at Rs 925 on the NSE.
The stock of IndiGo Airlines had run-up very sharply in the last few weeks and investors were wary as fundamentals also had to play catch-up.
Some analysts had warned that the movement of the share prices is closely linked to crude prices. Should we at some stage see a recovery in crude prices, it may lead to a drop in prices of the shares of IndiGo.
Despite the drop, the shares of the company are still significantly higher than the offer price of Rs 765.