Shares of two aviation firms rose 1.38% to 1.73% at 15:16 IST on BSE after jet fuel prices were cut by an average of nearly 3% across cities in India on Tuesday, 30 September 2014.
Jet Airways (India) (up 1.73% at Rs 211.75) and SpiceJet (up 1.38% at Rs 12.49) gained.
Meanwhile, the S&P BSE Sensex was down 58.80 points or 0.22% at 26,571.71.
SpiceJet had underperformed the market over the past one month till 30 September 2014, sliding 3.75% compared with the Sensex's 0.03% fall. The scrip had also underperformed the market in past one quarter, declining 35.5% as against Sensex's 4.79% rise.
Jet Airways (India) had underperformed the market over the past one month till 30 September 2014, sliding 6.41% compared with the Sensex's 0.03% fall. The scrip had also underperformed the market in past one quarter, declining 18.04% as against Sensex's 4.79% rise.
In Mumbai, jet fuel now costs Rs 69,610.50 per kl as against Rs 71,829.42 per kl earlier.
The jet fuel or aviation turbine fuel (ATF) price was cut by an average of nearly 3% across cities in India on Tuesday, 30 September 2014. ATF typically makes up almost half of an airline's operating cost. Prices of jet fuel are directly linked to crude oil prices.
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