Airline stocks hit fresh 52-week low as govt imposes custom duty on ATF

Jet Airways down 6% at Rs 181, InterGlobe Aviation and SpiceJet were down 4% at Rs 819 and Rs 67, respectively hitting their respective 52-week lows on the BSE in intra-day today.

Shares of airline companies hit a fresh 52-week low on the BSE in early morning trade on Thursday, after the government imposed customs duty on aviation turbine fuel (ATF).

Jet Airways down 6% at Rs 181, InterGlobe Aviation (IndiGo) and SpiceJet were down 4%  at Rs 819 and Rs 67, respectively hitting their respective 52-week lows on the BSE in intra-day today. At 09:30 am; the S&P BSE Sensex was trading 0.19% higher at 36,611 points.

On Wednesday, the government raised import duties on ATF and 18 other items, as it looks to check the widening current account