Aviation stocks rise by 10% in mid-trade session, hopes to restart international flights by July
In the trading session, the airline stocks surged amidst the hopes for some constructive development in the sector. Moreover, after the government announced the reopening of domestic airline operations, the aviation stocks showed positive growth in the past market sessions.
On the NSE, the shares of airline companies such as Interglobe Aviation (Indigo) and SpiceJet rose 6 and 10 percent, respectively. At 14.34 IST, Indigo’s shares were high at 1185.55, up by 69 points. Whereas SpiceJet shares were trading at 51.50.
As reported by CNBC TV-18, IndiGo shares increased 18.56 percent this week. Moreover, SpiceJet rushed up by 12 percent. Jet Airways shares went up over 20, gaining the most among others, the report said.
Earlier, IndiGo posted its quarter-four results and showed a net loss of Rs 870.8 crore owing to weak operating performance. The company posted a net profit of Rs 596 crore in the same quarter last fiscal. The company’s revenue in this quarter rose only by 4.5 percent to Rs 8,635 crore.
Recently, Jet Airways received the attention of several buyers. Thus, it is raising the company’s hopes for a way to revive the working of the nonoperational airline.