SpiceJet, IndiGo Shares Tank Over Steepest Ever Jet Fuel Hike
NDTV
On Thursday, jet fuel prices were hiked by 16 per cent to catapult rates to an all-time high in step with hardening international oil rates
Shares of aviation firms SpiceJet and InterGlobe Aviation came under heavy selling on Thursday after aviation turbine fuel (ATF) or jet fuel prices were raised to a record high.
The stock of SpiceJet tanked 7.05 per cent to settle at Rs 40.90 apiece on the BSE. During the day, it tumbled 8.29 per cent to its one-year low of Rs 40.35.
InterGlobe Aviation, parent firm of IndiGo, fell by 5.22 per cent to Rs 1,644.65 apiece. During the day, the stock declined 5.83 per cent to Rs 1,634.
On Thursday, jet fuel prices were hiked by the steepest-ever 16 per cent to catapult rates to an all-time high in step with hardening international oil rates.
