Shares of airlines companies have bounce back from days lower levels after the Finance Minister Pranab Mukherjee deferred the General-Anti Avoidance rules (GAAR) by a year to April 2013.
Kingfisher Airlines is trading higher by14% to Rs 15.55, bouncing back 20% from all-time low of Rs 12.95 touched in morning trades on back of huge volumes.
As many as a combined 21.35 million shares, representing 3.1% of total equity have already changed hands on the counter so far, against an average around 15 million shares that were traded daily in past two weeks on the NSE and BSE.
SpiceJet is up 8% at Rs 29.90, rallied 13% from intra-day low of Rs 26.50, while Jet Airways has surged 9% from day’s low trading at Rs 321 on the Bombay Stock Exchange. The trading volumes on both these counters have been more than double.
