SpiceJet flies high on pitching for hikes in airfares to sustain operation amid rising prices of jet fuel

17 Jun 2022 Evaluate

SpiceJet is currently trading at Rs. 42.15, up by 1.25 points or 3.06% from its previous closing of Rs. 40.90 on the BSE.

The scrip opened at Rs. 40.95 and has touched a high and low of Rs. 42.25 and Rs. 39.50 respectively. So far 314619 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 87.25 on 24-Nov-2021 and a 52 week low of Rs. 40.35 on 16-Jun-2022.

Last one week high and low of the scrip stood at Rs. 47.00 and Rs. 39.50 respectively. The current market cap of the company is Rs. 2530.55 crore.

The promoters holding in the company stood at 59.40%, while Institutions and Non-Institutions held 1.22% and 39.38% respectively.

SpiceJet has pitched for 10-15 per cent hikes in airfares in order to sustain the operation, amid rising prices of jet fuel and the depreciation of the Indian Rupee. As per the company, the massive increase in air turbine fuel (ATF) is not sustainable and governments both centre and state, need to take urgent action to reduce taxes on ATF. The company, in the last few months, has tried to absorb as much burden of this fuel price rise, which constitutes more than 50 per cent of its operational cost.

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

SpiceJet Share Price

47.55 0.90 (1.93%)
Aug 18, 18:03 View Price Chart
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