SpiceJet moves up on the bourses

SpiceJet Ltd. | Airlines | Travel & Hospitality | BSE: 500285 | NSE: SPICEJET

12 Nov 2014 Evaluate

Spicejet is currently trading at Rs. 15.25, up by 0.02 points or 0.13% from its previous closing of Rs. 15.23 on the BSE.

The scrip opened at Rs. 15.16 and has touched a high and low of Rs. 15.60 and Rs. 15.15 respectively. So far 671079 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 22.20 on 26-May-2014 and a 52 week low of Rs. 11.10 on 13-Aug-2014.

Last one week high and low of the scrip stood at Rs. 16.23 and Rs. 14.78 respectively. The current market cap of the company is Rs. 812.02 crore.

The promoters holding in the company stood at 53.48% while Institutions and Non-Institutions held 0.83% and 45.69% respectively.

In a bid to arrest losses, SpiceJet has reduced its capacity in a “fleet standardization” exercise. Over the past six months, the airline’s fleet has shrunk from 58 aircraft to 48 planes with the carrier returning 10 Boeing 737s to lessors. Three planes have been returned in the past two months alone.

The airline now operates 48 aircraft, including 33 Boeing 737s and 15 Bombardier Q400. The reduction in capacity and the grounding of a Boeing 737 following a collision with a buffalo in Surat have impacted the airline’s schedule, leading to cancellation of some flights.

SpiceJet is India’s most preferred airline who delivers the lowest air fares with the highest consumer value. The airline currently operates more than 350 daily flights to over 44 Indian cities and 9 international destinations.