IndiGo shares tumble! InterGlobe Aviation stock plunges 3% as CCI launches detailed probe

InterGlobe Aviation shares fell sharply on Thursday after Competition Commission of India (CCI) ordered initiating a detailed investigation into IndiGo over alleged unfair business practices. The stock dropped over 3% during the morning session. On the BSE, shares of the airline’s parent company slid 3.65% to Rs 4,782.45, while on the NSE they declined 3.63% to Rs 4,780.30. At 1:55 pm, IndiGo had fallen 72 points or 1.4% to 4,888 on NSE, while on Bombay Stock Exchange, the share was 1.5% down.

The selling pressure followed a 16-page order passed by the competition regulator on Wednesday, in which it directed a full investigation into IndiGo.