SpiceJet moots fare hike, hits 2-yr low; IndiGo slips 4% amid rising fuel

Shares of aviation companies were under pressure as InterGlobe Aviation, which operates IndiGo airlines, and SpiceJet slipped up to 6 per cent on the BSE in Thursday’s intra-day trade amid concerns of weak earnings due to rising fuel prices and falling rupee against dollar.

SpiceJet hit a two-year low of Rs 41.60, down 6 per cent on the BSE in Thursday’s trade on the back of heavy volumes. The stock of the aviation company was trading lower for the fourth straight day, down 12 per cent during the period. It was quoting at its lowest level since June 2020.

At 11:13 am; SpiceJet was trading 4 per cent lower at Rs 42.10, as compared to a 0.17 per cent rise in the S&P BSE Sensex.