Aviations stocks reel under pressure in noon deals

Jet Airways (India) Ltd. | Airlines | Travel & Hospitality | BSE: 532617 | NSE: JETAIRWAYS

15 Nov 2016 Evaluate

Aviations stocks were reeling under pressure with the government deciding to levy up to Rs 8,500 per flight on major routes to fund the regional air connectivity scheme.

Jet Airways (India) is currently trading at Rs. 388.00, down by 36.95 points or 8.70% from its previous closing of Rs 424.95 on the BSE. The scrip opened at Rs 425.00 and has touched a high and low of Rs 429.50 and Rs 384.80 respectively. So far 384738 shares were traded on the counter.

Spicejet is currently trading at Rs. 60.60, down by 3.10 points or 4.87% from its previous closing of Rs 63.70 on the BSE. The scrip opened at Rs 64.00 and has touched a high and low of Rs 64.00 and Rs 58.90 respectively. So far 3693028 shares were traded on the counter.

Spicejet is currently trading at Rs. 882.95, down by 28.80 points or 3.16% from its previous closing of Rs 911.75 on the BSE. The scrip opened at Rs 920.00 and has touched a high and low of Rs 920.00 and Rs 874.50 respectively. So far 23000 shares were traded on the counter.

The levy amount would be for an entire flight and the price of each ticket could go up depending on the number of seats in that particular flight.

Civil Aviation Secretary R N Choubey said the levy would be up to Rs 8,500 per flight depending on distance. The ambitious scheme -- UDAN (Ude Desh ka Aam Naagrik) -- seeks to connect small cities by air as well as make flying more affordable for the masses. To provide viability gap funding for the flights operated under the regional connectivity scheme, the Ministry would impose a levy on every departure on major air routes such as the national capital, Mumbai, Chennai, Hyderabad, Bengaluru and Kolkata.

Jet Airways (I) Share Price

34.04 0.00 (0.00%)

07-Nov-2024 00:00 View Price Chart

Peers

Company Name	CMP
Interglobe Aviation	4522.20
SpiceJet	13.99
Raymond	514.40
Global Vectra Helico	185.90
Taneja Aerospace	344.30
View more..

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