IndiGo shares in focus as 550 flights cancelled, more disruption likely

Shares of IndiGo parent InterGlobe Aviation are in focus today amid reports that the airline cancelled over 550 flights on Thursday as operational disruptions continued for a third day. During the period, IndiGo shares have tumbled 6% or Rs 357 from Rs 5,794 on December 2 to Rs 5437 on December 4. Advertisement

In the previous session, the InterGlobe Aviation stock ended 2.77% lower at Rs 5437.60 amid operational challenges leading to flight cancellations.

Meanwhile, global brokerage Morgan Stanley has cut its target price on InterGlobe Aviation by more than 2% to Rs 6,540 from Rs 6,698. The brokerage also trimmed its earnings before interest, tax, depreciation, amortisation (EBITDA) estimates and its earnings per share estimate for the company, but maintained an 'overweight' rating.