SpiceJet flies high on planning to buy more than 100 amphibian planes

05 Oct 2017

Spicejet is currently trading at Rs. 141.65, up by 3.75 points or 2.72% from its previous closing of Rs. 137.90 on the BSE.

The scrip opened at Rs. 138.95 and has touched a high and low of Rs. 142.50 and Rs. 138.95 respectively. So far 891525 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 150.10 on 13-Sep-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. 142.50 and Rs. 126.30 respectively. The current market cap of the company is Rs. 8452.25 crore.

The promoters holding in the company stood at 60.25%, while institutions and non-institutions held 10.41% and 29.34% respectively.

SpiceJet is planning to purchase more than 100 amphibian planes estimated to cost $400 million. This step has been taken as the no-frills airline is looking to boost regional operations.

With regard to purchase of the up to 14-seater amphibian aircraft that can operate on land as well as on water bodies, the airline major has entered into a Memorandum of Understanding (MoU) with Japan’s Setouchi Holdings.

SpiceJet is among the first private companies that stepped into the Indian aviation sector. The budget airline operates an average of 384 daily flights, with a fleet of 35 Boeing 737NG and 20 Bombardier Q- 400 planes.

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Spice Jet Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323