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SpiceJet strengthens on expanding its network

06 Jan 2016

SpiceJet is currently trading at Rs. 83.95, up by 1.85 points or 2.25% from its previous closing of Rs. 82.10 on the BSE.

The scrip opened at Rs. 82.85 and has touched a high and low of Rs. 84.50 and Rs. 82.35 respectively. So far 5264348 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 85.90 on 01-Jan-2016 and a 52 week low of Rs. 15.75 on 06-Jan-2015.

Last one week high and low of the scrip stood at Rs. 85.90 and Rs. 72.30 respectively. The current market cap of the company is Rs. 5032.38 crore.

The promoters holding in the company stood at 60.32% while Institutions and Non-Institutions held 0.61% and 39.08% respectively.

SpiceJet has expanded its network and increased flight frequencies on 10 routes, which include additional services on the Delhi-Kabul sector. The low-cost airline will add 10 new daily frequencies on its domestic network on some popular routes like Chennai-Kochi (fourth direct flight), Bangalore-Vijayawada (second direct flight) and Hyderabad-Vijayawada (second direct flight) among others.

On its international network, the second largest budget carrier is increasing frequencies on the Delhi-Kabul route by expanding operations from three weekly flights to five days, effective February 8.

Further, the airline has increased seating capacity on select domestic routes by undertaking aircraft upgrades from Bombardier Q400 (78 seats) to Boeing 737, which can fly 186 passengers.

Related Spicejet Ltd. Links:

Spice Jet Share Price

79.70 -0.30 (-0.37%) Jun 11, 18:01
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323