SpiceJet rose 1.99% to Rs 14.85 at 10:18 IST on BSE after the company said its board approved allotting warrants to the promoters on preferential basis.
The company made the announcement after market hours on Thursday, 21 August 2014.
Meanwhile, the BSE Sensex was up 82.71 points, or 0.31%, to 26,442.82.
On BSE, so far 14.69 lakh shares were traded in the counter, compared with an average volume of 53.45 lakh shares in the past one quarter.
The stock hit a high of Rs 15.60 and a low of Rs 14.83 so far during the day. The stock hit a 52-week high of Rs 23.05 on 23 September 2013. The stock hit a 52-week low of Rs 11.10 on 13 August 2014.
The stock had underperformed the market over the past one month till 21 August 2014, falling 18.20% compared with 2.51% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 19.78% as against Sensex's 8.49% rise.
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The small-cap company has an equity capital of Rs 535.28 crore. Face value per share is Rs 10.
The board of SpiceJet approved to allot upto 18.91 crore warrants, convertible into equivalent number of equity shares, in various tranches, to the promoters of the company, on preferential basis. Further, the board has decided to increase the authorised share capital of the company from existing Rs 1000 crore divided into 100 crore equity share of Rs 10 each to Rs 1500 crore divided into 150 crore equity share of Rs 10 each.
SpiceJet announced on Wednesday, 20 August 2014, that it achieved 79.4% load factor in July 2014 and increased domestic market share to 21%, as per just-released DGCA traffic data covering the month of July 2014. Last year, SpiceJet's load factor for July was 67.9%. SpiceJet is now the clear number 2 airline in India in terms of domestic passenger share, with load factor almost 10 percentage points ahead of the next highest loads carrier, the company said in a statement.
SpiceJet reported net loss of Rs 124.10 crore in Q1 June 2014 as against net profit of Rs 50.56 crore in Q1 June 2013. Net sales declined 0.59% to Rs 1678.59 crore in Q1 June 2014 over Q1 June 2013. The result was announced after market hours on 14 August 2014.
SpiceJet is India's second largest airline by domestic passenger share. The airline operates more than 340 daily flights to 47 destinations, including 40 Indian and 7 international cities. SpiceJet connects its network using next generation fleet of 32 Boeing 737-800 and 6 Boeing 737-900ER aircrafts, along with 15 Bombardier Q-400 aircraft that are focused on Tier II and Tier III cities.
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