On Wednesday in early morning trade, shares in aviation companies including Jet Airways, Indigo and Spicejet were seeing a declining price trend after Indian Oil Corporation decided to bring about a hike in aviation turbine fuel or ATF with effect from May 1.
ATF will now be priced higher by 6.5% at Rs 65,340/KL as against Rs 61,450/KL in the previous month. Report also hint at a possible increased in the demand for jet fuel. As per a PTI report, average demand for jet fuel could cross 700,000 tonnes this year as per analyst estimates.
But aviation companies ahead of the holiday season are expected to report a better quarter.
Interglobe avaiation was trading lower with a fall of 2.3% at Rs. 1367, Jet Airways lower by 3.73% at Rs. 618 and Spicejet fell by 2.93% at Rs. 133.5 at 1:25 pm.