Friday, September 08, 2006

Crude price fall news sets airline stocks on fire

Mumbai: Thanks to news of a fall in crude oil prices, airline stocks are flying high. With oil prices falling to $68 a barrel from $78, airline stocks are flying north.
Jet Airways today registered 12.49 per cent at Rs 664.70 on the Bombay Stock Exchange (BSE) against the previous day’s close of Rs 590.90. The stock reached an intra-day high of Rs 693.
The scrip of Deccan Aviation, which operates low-cost and no-frills carrier Air Deccan, has also gained 4.89 per cent at Rs 94.40 on the BSE against the previous day’s close of Rs 90, after touching an intra-day high of Rs 95.50.
Meanwhile, SpiceJet declined 1.21 per cent on the bourses at Rs 44.85 against previous day close of Rs 45.40, after touching an intra-day high of Rs 46.10.
08/09/06 P R Sanjai/Business Standard