Update at 12.15 pm: SpiceJet was holding on to its gains, up 1.04 percent at Rs 107, while Jet Airways was almost flat (up 0.19 percent) at Rs 516. IndiGo-owner Interglobe Aviation shares were down 0.31 percent at Rs 1,111. The BSE Sensex was down 53 points at 30,080 and top index losers were ITC, Axis Bank, Tata Steel and Lupin.
Original story:
Share prices of SpiceJet, Jet Airways and IndiGo-owner Interglobe Aviation were trading with modest gains at around 9.30 am on Thursday ahead of UDAN launch by Prime Minister Narendra Modi from Shimla.
SpiceJet was trading at Rs 107, Interglobe at Rs 1,121 and Jet Airways at Rs 516. The BSE Sensex was up 12 points at 30,118 and NSE Nifty almost flat at 9,348.
The UDAN scheme envisages short-duration flight services at affordable costs. The airfare for a one-hour journey of 500 km has been capped at Rs 2,500.
Five carriers will be operating along 128 routes across India under the scheme. SpiceJet, Air Deccan, Turbo Megha and two other operators will be flying the low-fare services.
Indian stock markets were on a roll on Wednesday, April 26, with benchmark indices Sensex and Nifty closing at record highs, tracking global and domestic cues. The BSE Sensex closed 190 points higher at 30,133, a record closing for the benchmark after it hit an all-time high of 30,167 while the 50-scrip NSE Nifty ended 45 points higher at 9,352.
Foreign institutional investors (FIIs) were net sellers of Indian equities worth Rs 493 crore.
Top index gainers were ITC, M&M and HDFC while Ceat, SKF India, Andhra Bank, Tata Chemicals, BEML, MRF and Marico hit a new 52-week high during the day. The Indian rupee hit a 20-month high of 63.93 to the US Dollar on Wednesday before closing at 64.12.
UDAN makes air travel accessible to a wider range of citizens & enhances connectivity with many more airports across India. pic.twitter.com/X2wVIq6130
— Narendra Modi (@narendramodi) April 27, 2017
