Jet Airways (India) rose 6.03% to Rs 468.30 at 13:25 IST on BSE following a slump in crude oil prices.
Meanwhile, the BSE Sensex was down 9.38 points, or 0.03%, to 27,575.89.
On BSE, so far 7.14 lakh shares were traded in the counter, compared with an average volume of 6.63 lakh shares in the past one quarter.
The stock hit a high of Rs 471.25 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 453 so far during the day. The stock hit a 52-week low of Rs 203.50 on 26 September 2014.
The stock had outperformed the market over the past one month till 12 January 2015, rising 9.86% compared with 0.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 81.15% as against Sensex's 4.90% rise.
The mid-cap private sector air carrier has an equity capital of Rs 113.60 crore. Face value per share is Rs 10.
Oil extended losses amid speculation that US crude stockpiles will increase, exacerbating a global supply glut that has driven prices to the lowest in more than 5-1/2 years.
Brent for February settlement was off $1.43 a barrel to $46 a barrel. The contract had lost $2.68 a barrel to settle at $47.43 a barrel during the previous trading session.
Jet fuel constitutes over 40% of an airline's operating costs. Prices of jet fuel are directly linked to crude oil prices.
PSU OMCs recently reduced aviation turbine fuel (ATF) price for sixth succeeding month in January 2015. A kilolitre of ATF now costs Rs 7520, or 12.5%, less at Rs 52423 in Delhi with effect from 1 January 2015. Rates at different airports vary because of differential in local sales tax or value-added tax (VAT).
PSU OMCs review jet fuel prices on the last day of the month based on the average imported oil price in the preceding fortnight.
Jet Airways (India) reported net profit of Rs 69.82 crore in Q2 September 2014 compared with net loss of Rs 891.01 crore in Q2 September 2013. Total income rose 24.6% to Rs 5320.73 crore in Q2 September 2014 over Q2 September 2013.
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