The counter has been gaining for the last two days and has risen 6.84 per cent in this period. It has outperformed the sector by 4.74 per cent.
Share Market News: Shares of SpiceJet surged over 5 per cent in early trade on Wednesday i.e. January 10. The surge in the price comes ahead of the Annual General Meeting (AGM) scheduled for 3:30 pm. The counter opened with a gain of 2.89 and surged over 5.47 per cent to touch an intraday high of Rs 65.6 on the BSE. The stock had closed at Rs 62.20 in the last trading session.
The counter has been gaining for the last two days and has risen 6.84 per cent in this period. It has outperformed the sector by 4.74 per cent.
The Annual General Meeting (AGM) is scheduled for 3:30 pm today where the board of directors of the company will seek approval from shareholders to raise Rs 2250 crore. Several entities have shown interest in investing in the company.
Earlier, the Directorate General of Civil Aviation (DGCA) issued show-cause notices to Air India and SpiceJet following a series of fog-related delays and diversions of their flights at the Indira Gandhi International (IGI) Airport.
The aviation regulatory body said that both airlines failed to deploy pilots trained for Category-III Instrument Landing System (CAT-III ILS) landings, a crucial requirement during low-visibility conditions caused by fog.
This lapse in compliance resulted in the diversion of multiple flights, inconveniencing passengers and raising concerns about the airlines’ preparedness for adverse weather conditions.
Meanwhile, benchmark equity indices declined in early trade on Wednesday amid fresh foreign fund outflows and a largely weak trend from global markets.
Investors preferred to stay on the sidelines ahead of the start of corporate earnings season and macroeconomic data announcements later this week, traders said.
Disclaimer: The article is for informational purposes only and not investment advice.