US-Iran ceasefire boosts airline stocks; IndiGo up 10%, SpiceJet 5%
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Shares of aviation companies, including IndiGo and SpiceJet, surged on April 8 following a US-Iran ceasefire announcement. IndiGo's shares rose 10% to ₹4,695.6, while SpiceJet increased 5% to ₹11.12. The NSE Nifty50 index also climbed 3.44%. The rally is attributed to falling global crude oil prices, which benefit airlines by reducing operating costs. Analysts predict further drops in oil prices, enhancing margins for aviation firms. G Chokkalingam from Equinomics highlighted IndiGo as a top recommendation due to its strong cash position and ability to handle market volatility.
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