SpiceJet gains on inking MoU with Air India for MRO facility in Nagpur

11 Aug 2016

SpiceJet is currently trading at Rs. 60.85, up by 0.50 points or 0.83% from its previous closing of Rs. 60.35 on the BSE.

The scrip opened at Rs. 60.70 and has touched a high and low of Rs. 60.95 and Rs. 60.10 respectively. So far 87,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 95.30 on 28-Jan-2016 and a 52 week low of Rs. 21.00 on 04-Sep-2015.

Last one week high and low of the scrip stood at Rs. 63.25 and Rs. 60.05 respectively. The current market cap of the company is Rs. 3,647.00 crore.

The promoters holding in the company stood at 60.32%, while Institutions and Non-Institutions held 2.39% and 37.29% respectively.

SpiceJet has inked a Memorandum of Understanding (MoU) with Air India, whereby the latter has succeeded in roping-in a private airline to use the maintenance repair overhaul (MRO) facility at the SEZ in Nagpur.

Spicejet will send its aircraft from the fleet of 42 planes to Nagpur MRO in immediate future. The first Spicejet aircraft is expected to roll in for MRO facility within two months. The company is also in process of acquiring 100 more aircraft in the days to come.

SpiceJet was among the first private companies that stepped into the Indian aviation sector. The airline was launched with an objective to deliver the lowest air fares with the highest consumer value, to price sensitive consumers.

Related Spicejet Ltd. Links:

Spice Jet Share Price

71.85 2.20 (3.16%) May 12, 18:01
1 Year Price Chart
Company Name CMP
Interglobe Aviation 1680.75
Hindustan Aeron 1007.85
Spice Jet 71.85
Global Vectra Helico 43.40
Jet Airways (I) 89.20
View more..
Sensex vs Spice Jet
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323