Shares of budget carriers IndiGo and SpiceJet down 1.1% and 2.8%, respectively
A parliamentary panel proposed route-specific capping of airfares on Thursday after concluding airlines' self-regulation has not been effective, Press Trust of India reports
Government cannot really cap prices since we are in a free market and airfares vary with demand, says Harsh Vardhan of Starair Consulting
IndiGo fell as much as 4.7%, while SpiceJet fell as much as 5.6% before recovering some losses
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