IndiGo, SpiceJet & other travel stocks plunge up to 7%. Two big reasons why

Travel stocks, including IndiGo, SpiceJet, ixigo, Toman Cook and Yatra Online, fell sharply after Prime Minister Narendra Modi urged citizens to avoid non-essential foreign travel for a year. Rising crude oil prices added further pressure, pushing aviation turbine fuel costs higher and weighing on margins, demand and sector sentiment.