SpiceJet strengthens on inking LOI with Bombardier for up to 50 Q400 Aircraft

21 Jun 2017

SpiceJet is currently trading at Rs. 129.90, up by 3.30 points or 2.61% from its previous closing of Rs. 126.60 on the BSE.

The scrip opened at Rs. 128.70 and has touched a high and low of Rs. 131.10 and Rs. 128.30 respectively. So far 25,62,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 131.10 on 21-Jun-2017 and a 52 week low of Rs. 54.50 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 131.10 and Rs. 121.75 respectively. The current market cap of the company is Rs. 7,783.00 crore.

The promoters holding in the company stood at 60.25%, while Institutions and Non-Institutions held 8.06% and 31.69% respectively.

SpiceJet has signed a letter of intent (LOI) with Bombardier Commercial Aircraft, for up to 50 Q400 turboprop airliners. The LOI includes 25 Q400 turboprops and purchase rights on an additional 25 aircraft. Based on the Q400 turboprop list price, an order could be valued at up to $1.7B billion. This would be the single biggest order for the Q400.

SpiceJet was among the first private companies that stepped into the Indian aviation sector. The airline, which has a fleet of 49 planes, operates an average of 342 flights daily.

Related Spicejet Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323