Aviation stocks were in heavy demand on Thursday, a day after the Civil Aviation Ministry said that domestic airfare caps will be removed. The Union Aviation Ministry on Wednesday said that limits imposed on domestic airfares will be removed from August 31, after a span of approximately 27 months.
Shares of InterGlobe Aviation opened at Rs 2,070.05, then gained further to touch 2,080.80, registering a jump of 2.09 per cent over its last close.
SpiceJet Ltd opened at Rs 46.05, then jumped as much as 6.80 per cent to Rs 47.90 a share. “The decision to remove air fare caps has been taken after careful analysis of daily demand and prices of air turbine fuel (ATF).
