Spicejet flies higher on the buzz of its plans of buying 40 Boeing 737 passenger jets worth over $4 billion

08 Jan 2014

Spicejet is currently trading at Rs. 20.60, up by 0.30 points or 1.48 % from its previous closing of Rs. 20.30 on the BSE.

The scrip opened at Rs. 20.55 and has touched a high and low of Rs. 20.80 and Rs. 20.45 respectively. So far 1613756 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 48.85 on 01-Feb-2013 and a 52 week low of Rs. 15.50 on 26-Nov-2013.

Last one week high and low of the scrip stood at Rs. 20.90 and Rs. 17.30 respectively. The current market cap of the company is Rs. 1102.68 crore.

The promoters holding in the company stood at 52.14% while Institutions and Non-Institutions held 7.59% and 40.27% respectively.

In a bid to modernize its fleet, SpiceJet has reportedly decided to purchase around 40 Boeing 737 passenger jets worth over $4 billion. In this regard, the company has placed a firm order for as many as 42 Boeing 737 MAX aircraft that offer fuel savings compared to its existing fleet of current-generation 737s.

The loss-making carrier, which is looking for new investors, has also negotiated options to buy as many as 42 more jets depending on its future growth.

SpiceJet is India’s most preferred airline delivers the lowest air fares with the highest consumer value. The airline currently operates more than 350 daily flights to over 44 Indian cities and 9 international destinations.

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Spice Jet Share Price

62.60 -0.20 (-0.32%) May 07, 16:25
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323