Shares of Aviation companies like SpiceJet and Jet Airways on Friday settled with gains of more than 5 per cent, after a record profit announced by their unlisted counterpart IndiGo, boosted investor sentiments.
According to market analysts, IndiGo’s profit benefitted mainly from significant decline in fuel prices, and this factor is also likely to help other carriers like Jet Airways and SpiceJet.
Shares of Jet Airways settled for the day at Rs328.10, up 5.80 per cent. During intra-day trading, the stock had surged as much as 7.70 per cent.
SpiceJet shares ended the day at Rs24.25, up 5.21 per cent. During intra-day trading, the scrip had surged 9.32 per cent on the BSE. pti