New Delhi, March 22 -- As problems in cash strapped Jet Airways deepens, investors are favouring stocks of its competitors -- SpiceJet and IndiGo -- betting that they will have a larger market share.
Accordingly, stocks of SpiceJet rose over 14 per cent on Friday and have been rising for the last four sessions gaining 25.93 per cent. Similarly, IndiGo's scrip gained 10 per cent in the last four sessions.
"SpiceJet shares are favoured as they have proposed to operate 40 aircraft grounded by Jet Airways," said Deepak Jasani of HDFC Securities.
"IndiGo and SpiceJet shares are also gaining as a number of flights are being cancelled by Jet Airways."
Earlier in the week, around 260 of Jet Airways' pilots have applied to join SpiceJet even as ...