IndiGo Shares Plunge 17% in 8 Days: Top Mutual Funds Holding the Stock in October
Operational disruptions hit InterGlobe Aviation stock; mutual funds continue to hold significant stakes despite share slump
India, Dec 09 : Shares of InterGlobe Aviation, the parent company of IndiGo, fell nearly 17% over the past eight days, dropping from ₹5,917 on 27 November to ₹4,913 on Tuesday. The decline comes amid major operational disruptions caused by the airline’s implementation of revised Flight Duty Time Limitations (FDTL) for pilots, which led to over 1,000 flight cancellations in a single day the highest daily figure in Indian aviation history.
Mutual Funds Hold Strong Despite Drop
As of October, mutual funds collectively held nearly 6 crore shares of InterGlobe Aviation, with a market value of ₹38,226 crore. ICICI Prudential Mutual Fund was the largest holder, owning 1.19 crore shares worth ₹6,718 crore. Other major holders included SBI Mutual Fund with 88.22 lakh shares, HDFC Mutual Fund with 78.05 lakh, and Kotak Mutual Fund with 52.41 lakh shares.
UTI Mutual Fund held 39.04 lakh shares, while Aditya Birla Sun Life Mutual Fund and Bandhan Mutual Fund held 17.70 lakh and 8.60 lakh shares, respectively. Smaller holdings were reported by Edelweiss Mutual Fund (3.91 lakh shares), Helios Mutual Fund (1.17 lakh), Union Mutual Fund (1 lakh), and JioBlackRock Mutual Fund (40,244 shares). Capitalmind, Unifi, and Taurus Mutual Funds held 9,880, 6,213, and 585 shares, respectively.
Airline Responds to Regulatory Scrutiny
IndiGo has formally responded to the Directorate General of Civil Aviation (DGCA)’s show-cause notice amid the ongoing operational challenges. In its statement, the airline acknowledged that a combination of revised pilot duty norms and minor technical glitches caused over 2,000 flight cancellations in the past week.
