Aviation stocks ease on hike in ATF prices

Aviation Turbine Fuel prices were hiked by over 9% from June 01, 2016

Shares of aviation companies were trading lower after oil marketing companies announced hike in aviation turbine fuel by over 9% from June 01, 2016.

Aviation Turbine Fuel (Domestic) has been hiked to 9.2% to Rs 46,729.48 in Delhi effective from June 1 compared with Rs 42,784.01 last month, Indian Oil Corporation said in a release.

For Mumbai the ATF price has been hiked by 9.4% to Rs 45,700.55 compared with Rs 41,756.16 last month, the release added.

Jet Airways was down 1% at Rs 582 while Interglobe Aviation eased 1.5% at Rs 1,045. However, SpiceJet was up 1% at Rs 69. The country's second-largest low-cost airline reported robust profit for the quarter ended March 2016.