Indigo, SpiceJet shares decline on soaring global crude oil prices


New Delhi, Jan 28 (IANS): The shares of Interglobe Aviation -- the parent company of Indigo -- and SpiceJet fell substantially on Thursday primarily due to rising global crude oil prices.

Prices of Aviation Turbine Fuel (ATF) typically take cues from benchmark crude oil for price discovery.

According to reports, earlier in the month, ATF price was hiked by Rs 2,039.63 per kilolitre, or 2.75 per cent, to Rs 76,062.04 per kilolitre in Delhi.

Global crude oil prices are currently at around a seven-year high. On Thursday, crude oil futures on the New York Mercantile Exchange traded at around $89 per barrel, data showed.

Besides, fresh restrictions imposed to fight the rising Covid caseload in various parts of the country also dented the outlook of the aviation sector.

Shares of Indigo settled 5.5 per cent lower from the previous close at Rs 1,859. Since the start of 2022, it fell 8 per cent cumulatively.

Similarly, SpiceJet shares hit a 52-week low during the session and settled 0.6 per cent down at Rs 60.50.

Since the start of the calendar year, Spicejet stock prices declined nearly 11 per cent.

 

  

Top Stories


Leave a Comment

Title: Indigo, SpiceJet shares decline on soaring global crude oil prices



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.