Shares of airline companies rose about 1 percent after the government cut jet fuel price by an average of 14.4 percent across India.
This is the largest cut in jet fuel prices since November 2008.
Shares of Jet Airways jumped as much as 2.4 percent, quoting at Rs 284.40 on the BSE.
Indigo-operator Interglobe Aviation and SpiceJet rose about 1 percent intraday, following the news.
Jet fuel prices have risen 0.6 percent year-on-year, according to IOCL data