Shares of aviation companies such as Jet Airways, SpiceJet and Kingfisher Airlines have rallied more than 3% each in otherwise weak market on reports that the government may clear the proposal of foreign direct investment (FDI) in the aviation sector in the next few weeks.
“All issues have been resolved and the road has been cleared for FDI in aviation. The government is waiting for the session of Parliament to be over to announce the decision,” the media report suggests.
Among the individual stocks, SpiceJet has rallied 5.3% at Rs 28.60, followed by Kingfisher Airlines 4% at Rs 13.10 and Jet Airways 3.5% at Rs 298 on the Bombay Stock Exchange.
