IndiGo share price drops 2% as DGCA orders 10% flight cancellations, yet HSBC maintains a ‘buy’ on stock — Here’s why

IndiGo share price: Shares of InterGlobe Aviation (IndiGo) resumed selling after a one-day hiatus on Wednesday, December 10, hurt by a fresh order from the aviation regulator to cut 10% of its planned flights, following the airline’s scrapping of at least 2,000 services last week.

IndiGo share price declined as much as 2.2% to hit the day’s low of ₹4853 on the BSE. The stock has ended in the red in eight out of the last nine sessions, losing 18% during this period.