Three airline stocks rose by 0.92% to 7.24% at 12:19 IST on BSE after the finance minister in the budget said that that Airports Authority of India to expand size of airports by 5 times.
Spicejet (up 7.24%), Jet Airways India (up 1.51%) and InterGlobe Aviation (up 0.92%) gained.
Meanwhile, the S&P BSE Sensex was down 70.82 points or 0.2% at 35,893.76.
Finance Minister said that Airports Authority of India now has 124 airports, this will be expanded by 5 times. The government aims of 1 billion trips a year, he added. The low-cost air connectivity scheme, UDAN, will connect 56 unserved airports and 31 unserved helipads, he said. Operations at 16 airports have started under regional connectivity scheme UDAN, he said.
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