Aviation Stocks Take Off As Oil Slump Continues: SpiceJet Hits 52-Week High

Indian aviation stocks rose on Wednesday, buoyed by a slump in crude oil prices. Spicejet shares rose as much as 4.27 per cent to a fresh 52-week high of Rs 132, Interglobe Aviation Ltd, the holding company of Indigo Airlines, rose about 2 per cent and Jet Airways rose 3.3 per cent. Global crude oil prices fell nearly 2 per cent overnight to its lowest settlement since November. Fuel constitutes nearly 40 per cent of the total cost o...