Reuters Market Eye - Shares in Jet Airways(JET.NS) gain 4.3 percent, after SpiceJet swung to a quarterly profit on Monday, aided by higher fares, sending its shares up as much as 7.6 percent.
"SpiceJet's result offers a very positive read-through for Jet's 3Q results," IIFL says in a note.
Dealers say investors are also hopeful of some traction in Jet's talks with Etihad for potential stake sale.
Jet Airways, India's second-largest carrier, is in talks with Abu Dhabi's Etihad Airways to sell a stake, it said earlier this month, in what could be the first deal in the sector following the rule change.
(Reporting by Abhishek Vishnoi)
Trending On Reuters
Maruti Suzuki India Ltd, India's biggest carmaker by sales, said on Tuesday first-quarter net profit rose 56 percent helped by lower costs, favourable foreign exchange rates and higher sales, but still missed bullish analyst estimates. Full Article | Full Coverage