IndiGo shares tumble nearly 9%; mcap declines Rs 17,884 cr

Shares of InterGlobe Aviation, the parent company of IndiGo, tanked nearly 9 per cent on Monday, wiping out Rs 17,884.76 crore from its market valuation as the disruptions in the crisis-hit airline's flight operations entered the seventh day.

The stock plunged 8.62 per cent to settle at Rs 4,907.50 apiece on the National Stock Exchange (NSE).

On the BSE, the Gurugram-based Interglobe Aviation's scrip slumped by 8.28 per cent to close at Rs 4,926.55 apiece. During the session, the counter hit an intraday low of Rs 4,842.20 and Rs 4,842.50 apiece on the BSE and NSE, respectively, a fall of nearly 10 per cent.

The sharp selloff dragged the domestic carrier's market capitalisation below the Rs 2 lakh crore mark.

On the NSE, the company's market capitalisation (mcap) declined by Rs 17,884.76 crore to Rs 1,89,719.34 crore, while the mcap of InterGlobe Aviation dipped by Rs 17,179.24 crore to Rs 1,90,455.79 crore on the BSE.

InterGlobe Aviation's shares have been on a losing streak since November 28, when they closed at about Rs 5,901 apiece on bourses.  -- PTI