By Shishir Prashant 
PrashantNews
Indigo’s shares showed slight recovery and Spicejet continued to face pressure in the stock market even as the Sensex and the Nifty 50 ended in the red on Monday.
As Indigo’s shares started taking off in the Monday trade, Spicejet stocks nosedived in juxtaposition to what happened in the past one week.
Amid Indigo’s nationwide operational disruption, the shares of Spicejet had surged last week but the InterGlobe Aviation also began rebounding. InterGlobe Aviation shares which were falling steeply till last Tuesday morning, started moving upward direction slowly after not going further down at Rs 4642 last week. This was mainly due to IndiGo’s nationwide operational disruption.
Indigo continued to show slight recovery as it closed at Rs 4965.15 +104.30 (+2.15%) on Monday mainly with a hope that the company is restoring its operations.
IndiGo (InterGlobe Aviation) stock had fallen for seven consecutive sessions in the past one fortnight, losing about 17 percent and erasing nearly Rs 40,000 crore in market value. Brokerages have turned cautious, with some trimming target prices as the scale of the disruption and its financial implications become clearer. But experts said the stock failed to decline from Rs 4642 further down due to its strong position in the market. “In normal circumstances, any stock facing deep crisis like that of Indigo should have fallen 30-50 percent in seven consecutive sessions. But Indigo’s shares fell only 17 percent which is surprising,” said an expert in the market.
Meanwhile, the shares of SpiceJet continued to decline on Monday after surging to 36 last week on BSE amid the ongoing IndiGo crisis. Spicejet closed at 31.71 -1.08 (-3.29%) on Monday.
Spicejet, a low-cost passenger carrier, has gained by 20 percent and then equally declined in the last three sessions mainly due to stability in the Indigo shares.