Aviation stocks jump as government announces to resume international flights from March 27; IndiGo, SpiceJet shoot up

9 Mar 2022 , 01:34 PM

Aviation stocks shoot up on Wednesday trade following the government’s announcement to resume international flights from March 27.

The ministry stated in its announcement that suspension of commercial international passenger services to and from India will continue only up to 23:59 hours on March 26, 2022.

Investors cheered this announcement and Aviation stocks zoomed as much as 9% in today’s trade.

Largest Aviation player, Interglobe Aviation Ltd.’s (IndiGo) stock touched a high of Rs1,727 in today’s trade, and was last trading at Rs1,715.85, up by 7.32% against its previous closing price of Rs1,598.80. It-s 52-week high remained at Rs2,380.

Another listed aviation player SpiceJet Limited gained near 7% in today’s trade and was the last trading at Rs59.80, up by 4.73% against its previous closing price of 57.10. So far in the day, it touched intraday high and low of Rs60.75 and Rs58.90 respectively.

India has earlier banned regular international flights until further orders on February 28, 2022. Currently, India is in air transport bubbles with 40 countries some of which are Canada, Germany, France, UAE, the UK, and the US.

Jet Airways and Global Vectra also added up to 5% at Rs93.90 and Rs48.30 respectively.