Shares in Jet Airways soared a huge 11 per cent in trade following a rub-off effect from superb quarterly numbers from SpiceJet.
On Tuesday Spicejet reported net profit of Rs 71.8 cr for Q1FY16, an improvement of Rs 195.9 crores relative to the net loss of Rs 124.1 crores for the same quarter last year. The profits were largely on the back of improved load factor and a sharp fall in the prices of aviation turbine fuel.
Hopes are that Jet Airways would also report good numbers, which is why the stock rallied 11 per cent in trade.
SpiceJet itself jumped 7 per cent on Tuesday and was up another 2 per cent today. Check SpiceJet Financials