SpiceJet surges on buzz to sell 25% stake to Kuwait Airways

15 Jul 2013

SpiceJet is currently trading at Rs. 30.00, up by 2.30 points or 8.30% from its previous closing of Rs. 27.70 on the BSE.

The scrip opened at Rs. 29.20 and has touched a high and low of Rs. 30.35 and Rs. 29.00 respectively. So far 4610730 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 50.90 on 07-Dec-2012 and a 52 week low of Rs. 24.50 on 27-Jul-2012.

Last one week high and low of the scrip stood at Rs. 29.40 and Rs. 26.25 respectively. The current market cap of the company is Rs. 1555.64 crore.

The promoters holding in the company stood at 52.14% while Institutions and Non-Institutions held 14.58% and 33.28% respectively.

SpiceJet is reportedly planning to sell 25% stake to Kuwait Airways for around Rs 1000 crore. Recently, civil aviation minister Ajit Singh said that domestic airlines like SpiceJet and GoAir are reported to be in talks with potential investors for stake sale transaction.

SpiceJet is the fourth largest airline and operates over 350 daily flights to over 47 domestic cities and eight international destinations. It has got 19.9% market share.


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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323