Two airline stocks rose by 1.17% to 4.9% at 12:25 IST on BSE after PSU OMCs reduced jet fuel prices.
PSU OMCs made revision in jet fuel prices after market hours yesterday, 30 June 2015.
Meanwhile, the BSE Sensex was up 175.10 points, or 0.63%, to 27,955.93.
Among airline stocks, Jet Airways (India) (up 1.17%) and SpiceJet (up 4.9%) gained.
Share of Jet Airways (India) had underperformed the market over the past one month till 30 June 2015, falling 26.92% compared with 0.17% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 41.08% as against Sensex's 0.7% decline.
Share of SpiceJet had underperformed the market over the past one month till 30 June 2015, falling 8.93% compared with 0.17% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 15.63% as against Sensex's 0.7% decline.
More From This Section
PSU OMCs reduced jet fuel prices by Rs 2086.56 per kiloliter or 3.91% to Rs 51267.36 per liter in Delhi, with corresponding price revision in other states. The revised jet fuel prices will take effect from 1 July 2015. Jet fuel prices were last revised to Rs 53353.92 per kiloliter in Delhi on 1 June 2015. Jet fuel or aviation turbine fuel (ATF) typically makes up almost half of an airline's operating cost. Prices of jet fuel are directly linked to crude oil prices.
PSU OMCs review jet fuel prices on the last day of the month based on the average imported oil price for the month.
Powered by Capital Market - Live News