Aviation stocks rally on 100% FDI approval
Stocks of Spicejet surged 6.45 per cent, Jet Airways 6.75 per cent and InterGlobe Aviation 4.48 per cent.
By ET Online |
NEW DELHI: Shares of scheduled airline companies like SpiceJet, Jet Airways and InterGlobe Aviation ended higher by 7 per cent on Monday.
The rally in the stocks was triggered by the government’s approval for 100 per cent foreign direct investment (FDI) in scheduled airlines. Till now, only 49 per cent FDI was allowed in these companies.
Stocks of Spicejet closed with gains of 7.36 per cent, Jet Airways 6.56 per cent and InterGlobe Aviation 6.02 per cent.
The rally in the stocks was triggered by the government’s approval for 100 per cent foreign direct investment (FDI) in scheduled airlines. Till now, only 49 per cent FDI was allowed in these companies.
Stocks of Spicejet closed with gains of 7.36 per cent, Jet Airways 6.56 per cent and InterGlobe Aviation 6.02 per cent.
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