Deccan Aviation takes off on high volumes

DALAL STREET SPIKES

Deccan Aviation took a leap of nearly 10 per cent, touching a high of Rs 103.30 from its previous close of Rs 93.95. Volumes doubled compared with the two-week average volume.

The buying is said to have followed the consolidation in the sector, due to Air Sahara's buyout moves by Jet.

As a result of this buyout, the sector is expected to gain pricing power, which has the potential to improve realisations for aviation companies. Deccan Aviation is expected to breakeven this financial year, which could prove another boost for the counter.