Free Technical News on Nifty Market
Shares of aviation stocks are flying as aviation turbine fuel (ATF) rates are cut by a steep 7.3 percent, the fourth straight reduction in prices since August on back of falling international oil rates. SpiceJet was up 7 percent while Jet Airways soared 6 percent intraday on Monday. Hailing it as good news, Sanjiv Kapoor,COO, SpiceJet said that ATF prices in India is 40-60 percent higher than rest of the world. In an interview to CNBC-TV18 he added revenues have improved significantly due to festive season discounts and load factor has improved to 86 percent in September.
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