FIIs have scaled up their exposure to three Indian air carriers -- Jet Airways, Kingfisher Airlines and SpiceJet in the April-June quarter of this fiscal. According to the data available with stock exchanges, the holding of foreign institutional investors (FIIs) increased in all the three listed aviation firms during the quarter.
"Aviation stocks are now turning around. SpiceJet and Jet Airways are back in black. Also hopes of foreign investment in the sector are driving FIIs to increase their exposure in these stocks," CNI Research CMD Kishore Ostwal said.
The FII holding in Jet Airways rose from 6.70 per cent to 7.12 per cent at the end of April-June quarter. During the same period, the FII shareholding in SpiceJet moved up from 2.61 per cent to 3.59 per cent. Besides, FIIs stake in Kingfisher Airlines rose from 0.34 per cent to 0.98 per cent in the period under review.
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