Stocks

SpiceJet hits over 8-month high; airline to induct 16 Boeing 737s

Reuters | Updated on April 12, 2019 Published on April 12, 2019

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Shares of SpiceJet Ltd rose as much as 9.43 per cent to ₹ 110.80, their highest since July 25, 2018

The airline has said that it would induct 16 Boeing 737-800 aircraft into its fleet and has applied to civil aviation regulator DGCA for No Objection Certificate to import aircraft.

The new inductions will not just bring down flight cancellations to nil but also help in the company's international and domestic expansion plans, its Chairman and MD Ajay Singh

More than 4 million shares traded, 1.6 times their 30-day moving average of about 2.5 million shares

Seven of eight brokerages tracking the stock rate it “buy” or higher, 1 “hold”

Up to Thursday's close, the stock had risen 13.5 per cent

Published on April 12, 2019
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