Jet, SpiceJet, IndiGo shares rally on ATF price cut

Aviation stocks got off to a flying start on the New Year's Day amid reports that oil marketing companies (OMCs) have cut aviation turbine fuel (ATF) price by 10 per cent to the level last seen in June 2010.

Jet Airways BSE 9.62 % spurted 5.70 per cent to hit a fresh 52-week high of Rs 739.45. A total of 9 lakh shares changed hands on the counter within the first one-and-a-half hour of trade against a two-week average of 10.23 lakh shares on the BSE. The scrip got included in NSE's F&O segment on Friday.
 

SpiceJet climbed 6.05 per cent to hit its 52-week high of Rs 79.80.
 

In fact, Inter Globe Aviation, the owner of low-cost carrier IndiGo, hit its fresh all-time high of Rs 1,299 during the session. At 11 am, the scrip was up 4.27 per cent at Rs 1,286.75
 

ATF price in Delhi now stands at Rs 39,892.32 per kilolitre. In Mumbai, it is Rs 39,009.02. The price stands at Rs 46,368.94 in Kolkata and Rs 42,418.64 per kilolitre in Chennai. 

 

Data avaiable with Petroleum Planning and Analysis Cell showed the price of the Indian crude basket stood at Rs 2,215.77 per barrel as of December 30 compared with Rs 2,603.80 during the fortnight ended December 11.
 

Fuel cost accounted for 35 per cent of SpiceJet's total expenditure for the quarter ended June 30, BSE data showed. For Jet Airways, it was about 30 per cent. InterGlobe's IndiGo Airlines enjoys 35.90 per cent market share. Jet holds 22.50 per cent, while SpiceJet has a 12.3 per cent share in the domestic market .

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