Coronavirus Outbreak: Aviation stocks fall after DGCA directive to stop bookings for travel after 3 May
Airline stocks fell up to 5.5 percent on Monday after regulator DGCA directed airlines to stop taking bookings for travel after 3 May
Airline shares tumble up to 14% amid ongoing travel restrictions; IndiGo hits 52-week low, SpiceJet down 10%
Hundreds of cancelled flights, decline in daily ticket bookings, fall in footfalls at airport shops and spike in expenses continue to rattle the country's aviation space.
Shares of InterGlobe Aviation (IndiGo) zoomed 7.44 percent, Jet Airways soared 4.70 percent and SpiceJet 4.69 percent on BSE.
The government on Wednesday raised import duties on 19 items, including jet fuel as it looks to check the widening current account deficit resulting from high crude oil prices and the rupee dipping to a historic low.