Sky-High Surge: Aviation Stocks Soar Despite Jet Fuel Hike

Aviation stocks experienced a significant rise on Wednesday, with InterGlobe Aviation shares climbing over 9%. This surge occurred despite an increase in jet fuel prices due to global oil price shifts. While domestic airlines face moderated prices, foreign carriers will pay market rates, reflecting a calibrated approach by authorities.

Aviation stocks saw a remarkable surge on Wednesday, spurred by rising confidence in the sector despite a substantial hike in jet fuel prices.

InterGlobe Aviation, the company behind IndiGo, witnessed its shares leap over 9%, closing at Rs 4,315 on the BSE. SpiceJet also saw a gain, with shares rising by 4.72% to Rs 10.20.

The increase in Aviation Turbine Fuel (ATF) prices, driven by global oil price fluctuations, has been moderated for domestic carriers, marking a measured response to the recent surge in international rates.

(With inputs from agencies.)