Aviation stocks take flight as govt ups fare price band; SpiceJet gains 7%

On Thursday, Ministry of Civil Aviation revised air fare price band on flights with 90 to 120 minutes of duration to Rs 3,900, up from Rs 3,500 earlier

Shares of aviation firms InterGlobe Aviation and SpiceJet took off at the bourses on Friday, cheering the government's decision to increase the upper and lower cap on airfare by up to 30 per cent. In the intra-day trade, IndiGo shares jumped up to 4.7 per cent on the BSE to hit an intra-day high of Rs 1,704 apiece while those of SpiceJet soared 7 per cent to a high of Rs 94 per share.

On Thursday, Ministry of Civil Aviation revised fare price band on flights with 90 to 120 minutes of duration to Rs 3,900, up from Rs 3,500 earlier.