Aviation stocks rise after ATF cut

Jet Airways (India) (up 4.61%), SpiceJet (up 2.76%) and Kingfisher Airlines (up 2.57%), edged higher.

The BSE Sensex was down 9.13 points, or 0.05% at 19,296.19.

Jet Airways (India) had outperformed the market over the past one month till 3 December 2012, surging 53.80% compared with the Sensex's 2.93% rise. The scrip had also outperformed the market in past one quarter, soaring 64.27% as against Sensex's 11.05% rise.

SpiceJet had outperformed the market over the past one month till 3 December 2012, rising 25.43% compared with the Sensex's 2.93% rise. The scrip had also outperformed the market in past one quarter, rising 43.95% as against Sensex's 11.05% rise.

 

Kingfisher Airlines had underperformed the market over the past one month till 3 December 2012, falling 4.68% compared with the Sensex's 2.93% rise. The scrip had, however, outperformed the market in past one quarter, rising 44.54% as against Sensex's 11.05% rise.

In Delhi, price of aviation turbine fuel (ATF), or jet fuel, was reduced by 1.01%, or Rs 688.40, to 67,709.12 per kilolitre (kl). In Mumbai, ATF price was reduced by 1.02% to 68,392.80.

Prices of ATF constitutes approximately 50% of operating expenses of Indian airlines. State-run oil marketing companies -- Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -- revise jet fuel prices on the 1st and 16th of every month based on the average international crude price in the preceding fortnight.

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