Spice Jet has edged 2.5% higher to Rs 18.30 on the BSE following a promotional offer launched on select routes. The reduction of jet fuel prices also helped sentiment.
The low-cost airline has launched an all-inclusive fare of Rs 1,499 on the Bangalore-Chennai and Bangalore-Goa routes. Jet fuel prices have been slashed 1.8% (third reduction in jet fuel price since April) due to declining international oil prices and the strengthening of the rupee against the US dollar, which have made imports cheaper after the rupee's appreciation lowered import costs.
The price of jet fuel, also known as aviation turbine fuel (ATF), at Delhi was cut by Rs 1,285.89 per kl, or 1.81%, to Rs 69,747.98 per kl, according to Indian Oil Corp, the nation's largest fuel retailer.
The stock opened at Rs 18.1, touched a high of Rs 18.7 and a low of Rs 18.1 on the BSE. Over 1,51,002 shares have been traded on the BSE so far.
Among other aviation stocks, Jet airways rose .7% on the BSE.
