Aviation stocks not dampened by oil prices hitting two-month high
DSIJ Intelligence / 31 Jul 2017
Aviation stocks were trading mixed on the Indian bourses wherein InterGlobe Aviation marginally gained 0.66% at Rs 1,295.25 per share, Jet Airways gained 0.44% at Rs 598.10 per share, and Spice Jet slipped 0.13% at Rs 115.75 per share.
Aviation stocks were trading mixed on the Indian bourses wherein InterGlobe Aviation marginally gained 0.66% at Rs 1,295.25 per share, Jet Airways gained 0.44% at Rs 598.10 per share, and Spice Jet slipped 0.13% at Rs 115.75 per share.
Taal Enterprises gained 5% at Rs 171.15 per share after breaching its lower circuit of Rs 154.85 per share.
In the overseas market, oil prices hit a two-month high on Monday, lifted by a tightening US’ crude market and the threat of sanctions against OPEC member Venezuela.
Brent crude futures were at USD 52.82 per barrel at 0443 GMT on Monday, up 30 cents or 0.6% and US West Texas Intermediate (WTI) futures were up 16 cents, or 0.3%, at USD 49.87 per barrel.
Meanwhile, according to a leading business daily, domestic airlines will see “varying effects” on their profits in the coming years as they will be required to show all aircraft leases on their balance-sheets under a new accounting standard.
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