Spicejet in limelight

about 4 months ago
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Two days ago, on 3rd Aug, there were some media reports stating that Spicejet is said to be in active discussion with a Middle Eastern carrier for a possible stake sale. Currently, promoter Ajay Singh holds a stake of around 60% and the Middle East carrier wants to take 24% stake.

The stock exchanges had sought a clarification on this news on the same day but the company is yet to provide any reply. This has stoked speculation that maybe there is some truth in this news. It could be pure gossip but because the company has not clarified even two days later, it is leading to more rumour mills churning.

This and its recent two news – clearing all its principal dues with Airports Authority of India (AAI) and a 2-year tie-up with EaseMyTrip Thai, to sell, promote and market passenger tickets and other services to passengers in Thailand effective 1st Sept has kept the stock price buoyant today.

Currently among the top five gainers on the BSE, the stock opened status quo at Rs.46.95 and is presently trading at its intraday high at Rs.51.90, up 8.5%.

38.85 (+0.15)

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