SpiceJet surges 6% on fleet expansion plan

Shares of SpiceJet have surged around 6% to Rs 19.20 on the Bombay Stock Exchange (BSE) after chairman and main promoter Ajay Singh has decided to infuse capital for fleet expansion.

When asked about his fund infusion plans, Singh said so far he has invested about Rs 800 crore into the carrier. Under a detailed plan to bolster its fortunes, SpiceJet's immediate priority is to further "regain consumer confidence" before embarking on fleet expansion, he said.  

The stock opened at Rs 18.20 and touched a high of Rs 19.65 in the late morning trades on the BSE. At 11:30 AM, a combined total of 1,305,769 shares changed hands on the counter on the BSE.