These 2 factors dragged SpiceJet 11% lower today after surging 19% Friday

SpiceJet stock news: The stock of SpiceJet had soared 19.4 per cent last Friday, October 13, after a report had said that Gangwal was looking to buy stake in the airline

Shares of low-cost airline SpiceJet crashed 11.2 per cent to Rs 38.7 per share on the BSE in the intraday trade on Monday as investors booked profit in the scrip. At 1:25 PM, shares of the airline were quoting 9 per cent lower at Rs 39.7 as against 0.09 per cent dip in the benchmark S&P BSE Sensex.

According to reports, IndiGo co-founder Rakesh Gangwal is not looking to buy a 'sizeable' stake in the airline, as claimed earlier. As per reports, a banker close to Gangwal has refuted the latter's intentions to buy stake in SpiceJet as he still