SpiceJet rose 3.28% to Rs 67.75 at 13:09 IST on BSE on reports the company plans to order more than 150 planes in the current financial year ending 31 March 2016.
Meanwhile, the BSE Sensex was down 9.50 points, or 0.04%, to 26,118.70.
On BSE, so far 66.45 lakh shares were traded in the counter, compared with an average volume of 1.18 crore shares in the past one quarter.
The stock hit a high of Rs 68.85 and a low of Rs 66 so far during the day. The stock hit a 52-week high of Rs 72.50 on 24 November 2015. The stock hit a 52-week low of Rs 11.25 on 16 December 2014.
The stock had outperformed the market over the past one month till 27 November 2015, rising 48.36% compared with 4.13% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 158.38% as against Sensex's 0.39% decline.
The mid-cap company has an equity capital of Rs 599.45 crore. Face value per share is Rs 10.
SpiceJet is in the process of placing a large aircraft order. The airline will order in excess of 150 planes, the company's chairman, Ajay Singh, told in a news conference yesterday, 29 November 2015.
He said the airline was generating enough money internally but had unused credit lines that could be utilised to pay for the aircraft. SpiceJet has no intention of diluting equity to pay for the planes, he reportedly said.
SpiceJet reported net profit of Rs 23.77 crore in Q2 September 2015 as against net loss of Rs 310.45 crore in Q2 September 2014. Net sales declined 27.37% to Rs 1029.12 crore in Q2 September 2015 over Q2 September 2014.
SpiceJet is India's #2 low fare airline that has made flying more affordable for more Indians than ever before. SpiceJet operates 291 daily flights to 40 destinations, including 34 domestic and 6 international ones.
Powered by Capital Market - Live News
