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Airline stocks continue to gain; soar up to 6%

Press Trust of India  |  New Delhi 

stocks continued to gain for the third consecutive session Friday, soaring up to 6 per cent on cut in duty on and easing crude prices.

Shares of zoomed 6.03 per cent, rose by 4.89 per cent and gained 3.63 per cent on BSE.

stocks had bucked the weak broader market sentiment and ended with up to 3 per cent gains Thursday.

These stocks had surged up to 8 per cent in Wednesday's trading session also.

After petrol and diesel, the government Wednesday cut duty on to 11 per cent to give relief to the aviation industry that has been hit hard over recent weeks by rising fuel prices and plummeting rupee.

is one of the biggest costs in operations.

Easing crude prices also supported aviation stocks.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 12 2018. 18:35 IST