Date:29/03/2008 URL: http://www.thehindubusinessline.com/2008/03/29/stories/2008032951291500.htm

Back Aviation stocks rise

Our Bureau

Mumbai, March 29 Three aviation company scrips on Friday closed in the green, led by Deccan Aviation which gained more than 12 per cent.

Deccan Aviation share prices went up by 12.73 per cent on Friday in line with the overall upward sentiment in the stock market with major interest shown in mid cap and small cap stocks.

Doing rounds

According to a market analyst, “Yesterday’s announcement from Mr Vijay Mallya of Kingfisher Airlines that the Deccan brand would cease to exist could have had some bearing on the price, but talks of such a move coming in was doing rounds in the market for quite sometime now.”

He recalled that at the time of announcement of Deccan’s acquisition too the shares were up by Rs 300.

Deccan Aviation shares closed at Rs 130.20, up by Rs 15 as compared to the previous close of Rs 115.50.

It touched an intra-day high of Rs 133.90.

Meanwhile, the shares of SpiceJet Ltd too spurted by 4.45 per cent.

They closed at Rs 39.90 as compared to the previous close at Rs 38.20.

Shares of the largest private carrier, Jet Airways, also gained by 1.44 per cent to close at Rs 557.50 as compared to the previous close of Rs 549.60.