Aviation stocks fly high after Delhi govt cuts jet fuel tax 

 Jet Airways, SpiceJet and InterGlobe Aviation soar between 4 and 8 percent on the back of positive announcement. The government announced the cut in tax to improve North East connectivity as well. Aviation stocks soared high following Delhi Government’s announcement of a massive cut in jet fuel tax to 1 percent from 25 percent. The state government cut the tax in a bid to improve North-East connectivity. Among the stocks that led the gain was SpiceJet , jumping over 7 percent intraday. Other major airlines such as Jet Airways and InterGlobe Aviation , which operates an airline under the name ‘IndiGo’, rose over 6 percent and 4 percent, respectively. SpiceJet has seen a massive jump of 28 percent in the past one month, and has posted gains of 10 percent in the past three days. At 14:24 hrs, it was quoting at Rs 81.10, up Rs 5.85, or 7.77 percent on the BSE.

 It touched an intraday high of Rs 81.20 and an intraday low of Rs 73.20. Aviation giant, Jet Airways, has surged over 22 percent in the past one month, and has posted a gain of 8 percent in the past three days. At 14:27 hrs Jet Airways was quoting at Rs 462.60, up Rs 25.90, or 5.93 percent, on the BSE. It touched an intraday high of Rs 465.35 and an intraday low of Rs 426.10. Meanwhile, InterGlobe Aviation, has also seen strong movements, but is lower compared to the other two stocks. It has risen 7 percent in the past 15 days, while its three-day gain stood at 4 percent. At 14:28 hrs, the stock was quoting at Rs 890.50, up Rs 30.20, or 3.51 percent, on the BSE. It touched an intraday high of Rs 899.00 and an intraday low of Rs 857.20

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