IndiGo skids 9% on promoter dispute; SpiceJet up 2%. Here's what lies ahead

Analysts have turned cautious on IndiGo post the development and said management distractions could impact Interglobe Aviation's (Indigo) currently strong franchise.

Shares of IndiGo extended decline and slipped another 9 per cent in the morning trade on Thursday amid spat between promoters of the company over issues of excessive control and corporate governance. SpiceJet, on the other hand, rose as much as 2.29 per cent. 

At 10:35 am, the stock of IndiGo was trading around 7 per cent lower at Rs 1,304 apiece on the BSE. SpiceJet was ruling half a per cent higher at Rs 120.25 apiece. In comparison, the benchmark S&P BSE Sensex was trading at 38,732 levels, up 175 points or 0.45 per cent.

On Tuesday, Rakesh Gangwal,