With more shares getting freed up from the promoter s belt, the move would also lead to a change in weightage in MSCI and FTSE indices. Considering that today s deal size was about 15.6 million shares, Nuvama said FTSE should include additional floating shares within the next few days.
SpiceJet and IndiGo stocks take off as a 2-hour flight could now cost up to ₹13,000
SpiceJet and IndiGo stocks take off as a 2-hour flight could now cost up to ₹13,000
Navdeep YadavFeb 12, 2021, 10:09 IST
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The India government removed the COVID cap on airfares allowing a rise between 10% and 30%, depending on the duration.
The investors cheered the fare cap revision as IndiGo and SpiceJet s stocks jumped nearly 3% and 5%, respectively, on Friday (February 12).
The fuel prices that account for nearly 70% of the airlines cost crossed the $60 per barrel mark earlier this week, adding to the airlines operator s woes.In a big relief to bleeding airlines, the government on Thursday eased caps on airfares. The Indian air regulator extended the curbs on setting fares till March 31 but said the airlines could charge as much as 30% more of the earlier limit.