Shares of aviation companies were in focus after they rallied up to nearly 8 per cent on the BSE during the early morning trade on Monday. Heavy volumes of shares were being traded at the bourses after Indian Oil Corporation slashed Aviation Turbine Fuel (ATF) price, which makes up 40 per cent of an airline’s cost structure, for the first time in the past five months.
Following the price cut, SpiceJet hit an all-time high of Rs 157 pe share, up 8 per cent, while InterGlobe Aviation, the operator of IndiGo, gained 2 per cent to trade at Rs 1,712 apiece. The latter was close to its all-time high level of Rs 1,716 touched on May 28, 2019 in intra-day trade.
SpiceJet counter saw huge trading volumes with 3.69 million shares already changing hands till 10:13 am, as compared to an average 3.66 million shares being traded daily in the past two weeks on the BSE.
