SpiceJet shares end nearly 4% higher

Shares of SpiceJet today settled with nearly 4 per cent gains amid reports that two Gulf airlines have approached the company for buying a stake in the domestic firm.
The stock settled the day at Rs 22.80, up 3.64 per cent from its previous close on BSE. During the day, it gained 5.22 per cent to Rs 23.15.
In terms of volume, 49.95 lakh shares of the company changed hands at the BSE during the day.
According to media reports, two big Gulf airlines have approached Ajay Singh-promoted SpiceJet for buying a stake in the airline.
Singh, the original co-founder, took back the reins last December amid SpiceJet facing turbulent times. He has already pumped in more than Rs 800 crore and continues to explore various investment options for the carrier.

After seven quarters of losses, SpiceJet posted a net profit of Rs 22.51 crore in the January-March period helped by renegotiated contracts and settlements and provisioning for re-delivery expenses, among others.