SpiceJet rose 3.26% to Rs 14.55 at 12:39 IST on BSE after the company said it became India's second largest carrier in July 2014 in terms of market share.
Meanwhile, the BSE Sensex was up 45.74 points, or 0.17%, to 26,360.03.
On BSE, so far 27.40 lakh shares were traded in the counter, compared with an average volume of 54.74 lakh shares in the past one quarter.
The stock hit a high of Rs 14.83 and a low of Rs 14.20 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 20 August 2014, falling 20.62% compared with 2.62% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 17.60% as against Sensex's 7.95% rise.
The small-cap company has an equity capital of Rs 535.28 crore. Face value per share is Rs 10.
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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.
"Our increase in loads and share is the result of our new network, improved branding and product, and most importantly, our dynamic pricing and revenue management approach where we believe flying empty seats, which is the ultimate perishable commodity, is a waste especially for budget airlines, " said Sanjiv Kapoor, Chief Operating Officer (COO), SpiceJet. The entire SpiceJet family has put all their hearts into making SpiceJet grow in loads and share, flying fuller planes than ever before, demolishing the notion that you cannot fly full planes in lean season. This achievement is all the more remarkable since we have cut capacity this year, as part of our network rationalization," he added. "Further, as our Q1 operating results demonstrated, our increase in loads this year has not been at the expense of yields. We are doing what is best for the airline, and it is a happy win-win-win that it is also best for customers (especially those willing to book early), and for the travel industry and economy at large due to the significant economic multiplier effect that accompanies air travel," Kapoor concluded.
SpiceJet has also recently announced a slew of new products, including SpiceFlex which offers traveler greater flexibility and various perks to go along with their booking, an all-new SpiceMAX that offers for a modest premium, significantly more legroom and more personal space in the first five rows of our Boeing aircraft , and its new in-flight meal service produce and online meal booking options, offering the best in-flight booking and dining experience in India today, featuring a greater than before choice of real hot meals as well as many other food and beverage options. Customer feedback indicates that these changes have been welcomed by customers, who are noticing the gradual emergence of an all-new SpiceJet, the company added.
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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