InterGlobe Aviation, SpiceJet: Aviation stocks in focus after ATF price hike

Airline stocks in India, IndiGo share price BSE, Spicejet share price BSE: Airline stocks were in focus on Monday after the aviation turbine fuel (ATF) price was increased by Rs 1,476.79 per kilolitre, or 1.65 per cent, to Rs 90,779.88 per kl in the national capital, according to a price notification of state-owned fuel retailers on July 1. Shares of Interglobe Aviation (IndiGo), Spicejet, Taal Enterprises, and Global Vectra Helicorp were trading in the green. These stocks jumped as much as nearly 8 per cent during the trade. On the other hand, Jet Airways (India) shares were down 2 per cent.

In the early trade, IndiGo jumped as much as a per cent on the BSE to Rs 2654.4 from Friday's close of Rs 2626.85. Shares of SpiceJet soared as much as 2 per cent to Rs 27.75 from their previous close of Rs 27.25 on the BSE. Global Vectra Helicorp shares zoomed as much as nearly 8 per cent to Rs 78.77 from their last close of Rs 73.16 on the BSE.

Meanwhile, Jet Airways (India) slid over 2 per cent in the opening trade to touch the day's low of 47 on BSE. TAAL Enterprises’ shares were down 2 per cent at Rs 1757. ATF prices were last reduced by Rs 6,632.25 per kilolitre, on June 1, 2023. It has to be noted that domestic fuel rates vary from state to state depending on the incidence of local sales tax or value-added tax (VAT), which has increased with the firming up of global rates after four months of decline.

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