Competition Commission of India (CCI) has imposed penalties upon 3 Airlines for concerted action in fixing and revising Fuel Surcharge (FSC) for transporting cargo.
Shares of Jet Airways were down 2% at Rs. 418, while Spicejet stock surged 5% to Rs. 50. Recently-listed InterGlobe Aviation, which runs Indigo airline has also clocked smart gains after the company stated that it may challenge the order.
Penalties of Rs. 151.69 crores, Rs. 63.74 crores and Rs. 42.48 crores were imposed upon Jet Airways (India) Ltd., InterGlobe Aviation Limited and Spice Jet Limited respectively for the impugned conduct which was found to be in contravention of the provisions of section 3(1) read with section 3(3)(a) of the Act. Besides, cease and desist order was also issued against the Airlines.
Jet Airways (India) Ltd is currently trading at Rs. 418.8, down by Rs. 9.85 or 2.3% from its previous closing of Rs. 428.65 on the BSE.
The scrip opened at Rs. 416 and has touched a high and low of Rs. 419.7 and Rs. 410.25 respectively. So far 1095887(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4869.46 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 543.5 on 02-Feb-2015 and a 52 week low of Rs. 240.75 on 25-Nov-2014. Last one week high and low of the scrip stood at Rs. 442.85 and Rs. 423.3 respectively.
The promoters holding in the company stood at 51 % while Institutions and Non-Institutions held 14.09 % and 34.91 % respectively.
The stock is currently trading below its 200 DMA.
SpiceJet Ltd is currently trading at Rs. 49.7, up by Rs. 1.7 or 3.54% from its previous closing of Rs. 48 on the BSE.
The scrip opened at Rs. 47.4 and has touched a high and low of Rs. 50 and Rs. 46.25 respectively. So far 5389689(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2877.36 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 53.3 on 10-Nov-2015 and a 52 week low of Rs. 11.25 on 16-Dec-2014. Last one week high and low of the scrip stood at Rs. 50.5 and Rs. 46.85 respectively.
The promoters holding in the company stood at 60.32 % while Institutions and Non-Institutions held 0.61 % and 39.08 % respectively.
The stock is currently trading below its 50 DMA.
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