Aviation stocks gain after govt increases cap on number of domestic flights

SpiceJet rallied 13 per cent to Rs 91.85 on the back of heavy volumes, while InterGlobe Aviation-run IndiGo gained 5 per cent to Rs 1,731 on the BSE

Shares of aviation companies were flying high at the bourses on Friday, rallying up to 13 per cent on the BSE, after the government lifted cap on domestic flights to 80 per cent of pre-Covid levels.

Following the news, SpiceJet soared 13 per cent to Rs 91.85 on the back of heavy volumes. A combined 16.7 million equity shares had changed hands on the counter on the NSE and BSE, till 09:50 am.

Shares of InterGlobe Aviation-run IndiGo airline gained 5 per cent to Rs 1,731 on the BSE. The stock was trading close to its 52-week high