Mumbai: Shares of InterGlobe Aviation and Jet Airways on Wednesday fell by as much as 4 per cent after aviation turbine fuel price was hiked by a steep 9.2 per cent.
InterGlobe's stock fell by 3.78 per cent to close at Rs 1,020.70 on BSE. Intra-day, it lost 4.53 per cent to Rs 1,012.60.
Shares of Jet Airways went down 2.04 per cent to end at Rs 576.05. During the day, it fell by 2.81 per cent to Rs 571.50.
"Shares of aviation companies remained under pressure as the prices of ATF was hiked. Fuel being the major cost driver for airlines, Jet Airways and Indigo were down," Bonanza Portfolio Ltd, Head Wealth Management and Financial Planning, Achin Goel said.
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InterGlobe's stock fell by 3.78 per cent to close at Rs 1,020.70 on BSE. Intra-day, it lost 4.53 per cent to Rs 1,012.60.
Shares of Jet Airways went down 2.04 per cent to end at Rs 576.05. During the day, it fell by 2.81 per cent to Rs 571.50.
"Shares of aviation companies remained under pressure as the prices of ATF was hiked. Fuel being the major cost driver for airlines, Jet Airways and Indigo were down," Bonanza Portfolio Ltd, Head Wealth Management and Financial Planning, Achin Goel said.
To Read the News in Full
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