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SpiceJet surges despite cancelling 14 flights as DGCA grounds Boeing 737 Max 8 aircraft

14 Mar 2019 Evaluate

Spicejet is currently trading at Rs. 79.35, up by 2.20 points or 2.85% from its previous closing of Rs. 77.15 on the BSE.

The scrip opened at Rs. 76.50 and has touched a high and low of Rs. 79.95 and Rs. 76.00 respectively. So far 1458070 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 142.00 on 10-Apr-2018 and a 52 week low of Rs. 60.60 on 04-Oct-2018.

Last one week high and low of the scrip stood at Rs. 85.90 and Rs. 72.50 respectively. The current market cap of the company is Rs. 4767.76 crore.

The promoters holding in the company stood at 60.03%, while Institutions and Non-Institutions held 10.05% and 29.93% respectively.

SpiceJet has cancelled 14 flights and will be operating additional flights from March 14. As Directorate General of Civil Aviation (DGCA) is grounding Boeing 737 Max 8 aircraft which are currently being used by airline companies in India. The company has around 12 such aircraft in its fleet.

SpiceJet is among the first private companies that stepped into the Indian aviation sector.

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