Low-cost airline SpiceJet today surged as much as 19 per cent on the bourses amid reports that the company is in talks with the Wadia group-owned GoAir for either a merger or acquisition of a controlling stake.
The company's scrip opened on a firm note and then rallied further to witness an intra-day high of Rs 14.60 on the Bombay Stock Exchange, up 19.08 per cent from its previous close.
On the volume front good movement was witnessed as over 12.05 lakh shares exchanged hands on the BSE.
Marketmen said the rally in the stock was because of the probability of a merger or acquisition of controlling stake in GoAir.
SpiceJet CEO Sanjay Aggarwal is reported to have met GoAir Managing Director Jeh Wadia late last month to discuss a deal.
Also read: SpiceJet, GoAir in talks for consolidation
SpiceJet was later trading at Rs 13.73, up 11.99 per cent on BSE.
