Aviation stocks rallied as much as 7 per cent today following news that foreign investors, barring overseas airlines, can now have up to 100 per cent stake in local carriers. 

Shares of SpiceJet climbed 7.36 per cent to Rs 69.30, Jet Airways surged 6.56 per cent to Rs 586.10 and InterGlobe Aviation soared 6.02 per cent to settle at Rs 1,071.15 on BSE. 

Foreign investors, barring overseas airlines, can now have up to 100 per cent stake in local carriers, the government today said unveiling significant reforms. 

Besides, the norms for foreign direct investment in brownfield airports have been relaxed. 

Aimed at attracting more funds into the aviation sector which has high growth potential, the NDA government's latest measure comes less than a week after the unveiling of the National Civil Aviation Policy.

(You need to login first to read complete news).
New User? Register for FREE!
» Back to Travel News