Aviation stocks fly high as 49% FDI in aviation sets to take off

49% Foreign Direct Investment (FDI) in the aviation sector, which was on the back-burner for months now, could finally see the light of the day over next few weeks, as the government is reportedly waiting for the ongoing Budget-2 Parliamentary session to come to an end, in order to announce the decision. The development is going to bring a huge relief to the embattled aviation sector, which faces multiple headwinds, such as high debt levels amidst liquidity woes. Besides, the move will help bring global expertise and best industry practices over the medium term.

Kingfisher Airlines is currently trading at Rs 12.90, up by 0.30 points or 2.38% from its previous closing of Rs 12.60 on the BSE. The scrip opened at Rs 12.85 and has touched a high and low of Rs 13.10 and Rs 12.70 respectively. So far 1994113 shares were traded on the counter.

Jet Airways (India) is currently trading at Rs 292.75, up by 5.25 points or 1.83% from its previous closing of Rs 287.50 on the BSE. The scrip opened at Rs 292.00 and has touched a high and low of Rs 298.00 and Rs 287.55 respectively. So far 160159 shares were traded on the counter.

Spicejet is currently trading at Rs 28.35, up by 1.20 points or 4.42% from its previous closing of Rs 27.15 on the BSE. The scrip opened at Rs 27.70 and has touched a high and low of Rs 28.60 and Rs 27.50 respectively. So far 1516903 shares were traded on the counter.