Airline shares rise on FDI reports

Spicejet shares gain 1.9%, while Kingfisher Airlines gains 3.4%

Shares of airlines rally on media reports the government is considering relief measures for the industry after the presidential elections later this month.

According to business reports, the government is considering a relaxation of FDI regulations in the industry -- which currently cap foreign investments at 49 percent -- and taxation of aviation turbine fuel, citing a senior government official.

Spicejet shares gain 1.9 percent, while Kingfisher Airlines gains 3.4 percent.