 "Aviation shares in focus; SpiceJet hits fresh 52-week high")
Shares of aviation companies are in focus on the bourses and rallied by up to 9% in an otherwise subdued market on expectation of higher profit growth for the second quarter ended September 2015.
At 09:50 am, Jet Airways (India) was up 4.6% at Rs 344 on the BSE.
SpiceJet has rallied 9% to Rs 33.90, also its fresh 52-week high on the BSE. The counter has seen huge trading volumes with 5.3 million shares already changed hands in first half-an-hour of trading against an average 6.67 million shares that were traded daily in past two weeks, the BSE data shows.
In past two trading sessions, shares of the country’s low-cost carrier SpiceJet surged 16% from Rs 29.30 on reports that the company plans to order new aircraft worth billions of dollars in the next five months. CLICK HERE TO READ FULL REPORT.
The growth in passenger traffic and the drop in fuel prices during the September quarter are expected to drive the profitability of airlines.
For the first quarter ended June 2015, Jet Airways and SpiceJet had posted an aggregate net profit of Rs 166 crore against net loss of Rs 381 crore in the corresponding quarter of previous year.
At 09:50 am, Jet Airways (India) was up 4.6% at Rs 344 on the BSE.
SpiceJet has rallied 9% to Rs 33.90, also its fresh 52-week high on the BSE. The counter has seen huge trading volumes with 5.3 million shares already changed hands in first half-an-hour of trading against an average 6.67 million shares that were traded daily in past two weeks, the BSE data shows.
In past two trading sessions, shares of the country’s low-cost carrier SpiceJet surged 16% from Rs 29.30 on reports that the company plans to order new aircraft worth billions of dollars in the next five months. CLICK HERE TO READ FULL REPORT.
The growth in passenger traffic and the drop in fuel prices during the September quarter are expected to drive the profitability of airlines.
For the first quarter ended June 2015, Jet Airways and SpiceJet had posted an aggregate net profit of Rs 166 crore against net loss of Rs 381 crore in the corresponding quarter of previous year.