Shares of Indian aviation companies climbed higher on Wednesday on hopes of aviation turbine fuel duty cut. There is a buzz in the market that Finance Ministry may submit a proposal to the Election Commission to cut excise duty on aviation turbine fuel (ATF) from 14 per cent to 8 per cent,
The stock of Jet Airways gone up as much as 7.5 per cent to Rs 189. Interglobe Aviation climbed as much as 6.1 per cent to Rs 768.40, while Spicejet gained as much as 7.1 per cent to Rs 69.90
The cut in excise duty on ATF will have a positive impact on the companies since their costs would come down.