After tumbling over 15 per cent in the last two trading sessions, Jet Airways is back to winning ways cashing on the sharp fall in Crude Oil prices.
The NYMEX Crude Oil futures are trading with losses of around 2 per cent at $ 55.30 per barrel.
Lower Crude Oil prices help the aviation industry reduce the operating costs. Also, Jet seems to be benefitting from the current cancellation of flights by rival SpiceJet.
The stock which touched a low of Rs. 369 in late morning deals, has rebounded strongly into the positive zone and touched a high of Rs. 393 - up 6.5 per cent from the day's low.
The stock is now up nearly 5 per cent at Rs. 391. The counter has seen trades of around 950,000 shares as against the two-week daily average volume of around 1.38 million shares on the BSE.
Meanwhile, the Sensex has recovered partially from the day's low, but still down a hefty 320 points at 26,999.
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