Indigo Shares: Go First Aviation shares rise amid crisis, Indigo reaches 52-week high

Shares of aviation companies saw a jump on Wednesday after GoFirst Airline filed for bankruptcy process. Shares of InterGlobe Aviation (Indigo), SpiceJet, Tal Enterprises, Jet Airways and Global Vectra Helicorp were seen rising between 2% and 6%.

Shares of the country's largest airline InterGlobe Aviation today surged over 6 per cent to hit a 52-week high of Rs 2,236.95. By 12:47 pm, the stock was trading at a level of 2167 with a gain of 4.86 per cent. The stock opened at the 2,145 level today.

At the same time, SpiceJet's stock was trading at 32.55 till the time of writing the news. The stock opened at 31.95 and touched a high of 33.25 and a low of 31.80 during the day.

Jet Airways shares are in the upper circuit of 5 per cent. The share price is Rs 60.90. The stock opened today at 56.25, after which it hit the upper circuit.

Shares of Tal Enterprises, Jet Airways and Global Vectra Helicorp are trading between one per cent and five per cent higher.

It has been said on behalf of GoFirst Airline on Tuesday that due to lack of funds, it will keep its operations closed from May 3 to May 5. Also, the airline applied for bankruptcy process in NCLT. Citing the reason behind this crisis, the airline said that due to the failure of Pratt & Whitney engines, the company had to ground more than 50 per cent of its fleet and the company was incurring losses.