InterGlobe Aviation is the parent company of the low-cost airline IndiGo. SpiceJet gained up to 8 per cent on the BSE in Wednesday’s intra-day trade after the government announced the resumption of international flights from March 27, 2022. The move is expected to boost global capacity and help soften airfares, which have been soaring due to increased demand and a rise in crude oil prices.
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Among the individual stocks, IndiGo surged 8 per cent to Rs 1,722 and SpiceJet 7 per cent to Rs 60.75 in intra-day trade. In comparison, the S&P BSE Sensex was up 0.73 per cent at 53,814. In the past month, shares of Indigo declined 27 per cent, compared to near an 8 per cent fall on the benchmark index. The stock of SpiceJet hit a 52-week low at Rs 53.30 on Monday, March 7, 2022.
