BUZZ-India aviation stocks rise after cut in jet fuel tax


BUZZ-India aviation stocks rise after cut in jet fuel tax

Shares of Indian airlines rise despite the global sell-off after govt said on Wednesday it would cut the factory gate tax on jet fuel to 11 pct from 14 pct

** InterGlobe Aviation Ltd rises as much as 6.1 pct to 790 rupees

** Jet Airways (India) Ltd gains as much as 4.2 pct to 197 rupees, while SpiceJet rises as much as 4.1 pct to 70.9 rupees

** Indian aviation cos have taken a hit recently due to rising oil prices, depreciating rupee

** InterGlobe stock lost 38.3 pct, Jet fell 77 pct and SpiceJet fell 53.3 pct this year, as of last close Read More

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