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Rakesh Jhunjhunwalla-controlled Rare Enterprises bought 25 lakh shares (or 0.5 per cent) of SpiceJet. According to the BSE bulk deal data, it bought these shares at an average price of Rs 30.77.
SpiceJet, which came out with stellar financial performance on Monday for the June quarter, jumped 22.4 per cent at Rs 30.85. Volumes leaped to 1.98 crore shares as against the two-week average of 56.14 lakh shares.
The details regarding from whom Rare Enterpirses bought these shares are not available.
At the end of March, promoters — Mr Kalanithi Maran and Kal Airways — hold 43.59 per cent stake. FII holds 2.61 per cent stake in the BSE-listed firm, while domestic funds, including Reliance Capital, SBI Mutual Fund, have an exposure of 12.84 per cent stake in the company.
SpiceJet has reported a net profit of Rs 56.15 crore for the quarter ended June 30. The airline had reported a loss of Rs 71.96 crore for the same quarter last year. Revenue increased 51 per cent to Rs 1,407 crore (Rs 931 crore).
badri@thehindu.co.in
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