Aviation shares surge on hopes of FDI

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Aviation shares surge on hopes of FDI
Kingfisher Airlines: Quotes, News
BSE 1.3600000143051147BSE Quote0 (0.00%)
NSE 1.2999999523162842NSE Quote0 (0.00%)
Spicejet: Quotes, News
BSE 145.80BSE Quote1.9 (1.30%)
The shares of the aviation sector rose on Wednesday after reports that the government will take measures to allow foreign investment in the sector.

As per reports, it also quoted by a senior government official saying that measures on foreign direct investment, including possibly in multi-brand retail, could come after Friday's cabinet meeting.

At 11.40 a.m. on BSE, SpiceJet was trading higher by 5.59% at Rs 31.15. It has hit a high of Rs 31.50.

Kingfisher Airlines Ltd surged 3.06% at Rs 9.09. It has hit a high of Rs 9.13.

Jet Airways Ltd was trading higher by 2.75% at Rs 345.75. It has hit a high of Rs 347.70 today.

The positive decision from government will boost the aviation sector which is under high debt and operational issues.

Currently, Indian policy allows up to 49% FDI in airlines. However, foreign carriers are not allowed to invest.


Read more about: aviation, fdi
Story first published: Wednesday, September 12, 2012, 11:55 [IST]
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