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Markets | Airline shares up after news of meet on FDI

Markets | Airline shares up after news of meet on FDI
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First Published: Fri, Nov 06 2009. 12 07 AM IST
Updated: Fri, Nov 06 2009. 12 07 AM IST
New Delhi: Airline stocks surged on Thursday after news that a committee of secretaries headed by cabinet secretary K.M. Chandrasekhar may meet next week to review foreign direct investment norms in the aviation sector. A civil aviation ministry official who asked not to be named, said the meeting is expected on the 14th. The ministry had earlier this year proposed that the current ban on investment by foreign airlines in domestic carriers be lifted to allow them to pick at least 25% stake. No changes have been made since then. Kingfisher Airlines Ltd rose 6.78% at the Bombay Stock Exchange to close at Rs49.60 a share, Jet Airways (India) Ltd was up 3.02%, at Rs457.50, and SpiceJet Ltd was up 7.76%, at Rs39.60. The benchmark Sensex, rose 0.95%.
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First Published: Fri, Nov 06 2009. 12 07 AM IST