Here’s how SpiceJet, IndiGo shares reacted to India's Operation Sindoor against Pakistan 

Shares of aviation companies InterGlobe Aviation-owned IndiGo and SpiceJet surged up to 8% in choppy trade on Wednesday, in an otherwise muted broader market. While SpiceJet shares rallied as much as 8.2% in opening deals, InterGlobe Aviation , the country’s most valued airline, rose up to 0.5%.

Meanwhile, the equity benchmark indices, the BSE Sensex and the NSE Nifty, were trading higher by 0.2% after making a negative start as caution prevailed in the market after India early on Wednesday carried out Operation Sindoor, hitting terrorist infrastructure in Pakistan and Pakistan-occupied Kashmir (PoK).

Soon after India’s surgical strike on terrorist camps in PoK, Indian aviation companies IndiGo, SpiceJet, Air India, and Akasa Air announced widespread flight diversions and cancellations near border airports as part of a precautionary measure.

Here’s how IndiGo and SpiceJet shares reacted to Operation Sindoor

Shares of IndiGo’s parent InterGlobe Aviation rose as much as 0.5% to ₹5,360.70 on the BSE in the first hour of trade so far. Shares of India’s most valued aviation company staged a smart recovery today as the stock opened 2.9% lower at ₹5,166.70, after ending 3.65% down in the previous session.  

In opening trade, IndiGo shares hit a low of ₹5,161.50, but it soon gained momentum and rebounded 3.85% from the day’s low to hit a high of ₹5,360.70 on the BSE.

At the time of reporting, IndiGo shares were trading 1.2% lower at ₹5,259 with a market capitalisation of ₹2.03 lakh crore.

In a similar trend, SpiceJet shares started the day at ₹43.36, down 2.67% against the previous closing price of ₹44.55 on the BSE. Paring opening losses, the stock jumped 8.2% to hit a high of ₹48.22, while it rebounded over 11% from opening low.

Air India, IndiGo, SpiceJet, others cancel flights

Following India’s crackdown on terrorist bases in Pakistan and PoK, both domestic and international airlines have announced widespread flight diversions and cancellations.

Domestic carrier IndiGo has cancelled flights to and from seven airports, issuing a travel advisory stating that operations to Srinagar, Jammu, Amritsar, Leh, Chandigarh, Dharamshala, and Bikaner are affected.

“In continuation to our earlier update and in wake of the prevailing situation, flights to/from Srinagar, Jammu, Amritsar, Leh, Chandigarh, Dharamshala, Bikaner, and Jodhpur stand cancelled for the day. We are anticipating changes in flight schedules across our network and sincerely advise all customers to stay updated on their flight status before heading to the airport,” IndiGo said in a post.

SpiceJet said that several airports across north and west India, including Dharamshala, Leh, Jammu, Srinagar, and Amritsar, have been shut until further notice. Departures, arrivals, and connecting flights are likely to be impacted.

Akasa Air also informed that its flights to and from Srinagar are affected due to the airport closure.

Air India announced disruptions across nine cities, saying that flights to and from Hindon, in addition to Jammu, Srinagar, and Amritsar, will remain cancelled until noon today.

International operations are also facing disruptions. Qatar Airways announced that it has temporarily suspended flights to Pakistan due to the closure of Pakistani airspace. “The airline is closely monitoring the situation and will continue to prioritise the safety of its passengers and crew,” it said in a statement.

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