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Aviation stocks close mixed

Press Trust of India  |  New Delhi 

Aviation stocks on Tuesday closed on a mixed note after dropping up to 10 per cent in the morning trade after the announcement that Indian airlines will suspend all domestic operations from March 25 amid the coronavirus outbreak.

Shares of IndiGo's parent InterGlobe Aviation, which tanked 9.99 per cent to Rs 765.05 apiece -- its one-year low during the morning trade on the BSE, later wiped out its losses and closed at Rs 919.10 per unit, a gain of 8.12 per cent.

SpiceJet, which dropped 4.92 per cent to Rs 31.85 -- its 52-week low as well as lower circuit, closed the day 3.28 per cent down at Rs 32.40.

No domestic commercial passenger flight will be allowed to operate in the country from Tuesday midnight till March 31 to restrict travel amid the coronavirus pandemic, the Union civil aviation ministry said in a statement.

The country has already suspended international flights.

Among other sectors, the airline industry is one of the worst hit by the outbreak. The country's largest carrier Indigo has already announced pay cuts.

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

First Published: Tue, March 24 2020. 17:28 IST
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