 "Jet Airways, SpiceJet hit 52-week high")
Shares of aviation companies have moved higher by up 13% on the BSE in noon trade on back of heavy volumes. Jet Airways (India) and SpiceJet have touched their respective 52-week highs in intra-day trade today.
Jet Airways (India) has soared 13% to Rs 577, also its 52-week high on the BSE. The trading volumes on the counter nearly double with a combined 17.38 million shares changed hands on the BSE and the NSE till 02:55 PM.
SpiceJet surged 9% to Rs 73.25, bouncing back 12% from intra-day low of Rs 65.35. InterGlobe Aviation, operator of India's largest airline company Indi-Go Airlines, was up 2.6% at Rs 1,122, recovering nearly 6% from its early morning low of Rs 1,061 on the BSE.
Jet fuel, or aviation turbine fuel (ATF), prices were cut on Tuesday by a marginal 1.2%, the third reduction in three months. Jet fuel constitutes over 40% of an airline's operating costs and the price cut will bring relief to the cash-strapped carriers.
Jet Airways (India) has soared 13% to Rs 577, also its 52-week high on the BSE. The trading volumes on the counter nearly double with a combined 17.38 million shares changed hands on the BSE and the NSE till 02:55 PM.
SpiceJet surged 9% to Rs 73.25, bouncing back 12% from intra-day low of Rs 65.35. InterGlobe Aviation, operator of India's largest airline company Indi-Go Airlines, was up 2.6% at Rs 1,122, recovering nearly 6% from its early morning low of Rs 1,061 on the BSE.
Jet fuel, or aviation turbine fuel (ATF), prices were cut on Tuesday by a marginal 1.2%, the third reduction in three months. Jet fuel constitutes over 40% of an airline's operating costs and the price cut will bring relief to the cash-strapped carriers.
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