FIIs Bought 27,86,70,546 Shares: Airline Stock Under Rs 65; Company Announces Special Daily Flights to Prayagraj for Maha Kumbh 2025
In its annual results, the company reported net sales of Rs 7,085 crore, an operating loss of Rs 644 and a net loss of Rs 424 crore in FY24.
SpiceJet Ltd announced the launch of daily special flights connecting Prayagraj to Delhi, Mumbai, Bengaluru, and Ahmedabad exclusively for the Maha Kumbh Mela 2025. These flights will operate from January 12, 2025 to February 28, 2025, offering millions of pilgrims a seamless and convenient travel option to one of the world’s largest religious congregations. SpiceJet is the only airline offering non-stop flights between Ahmedabad and Prayagraj, providing pilgrims from Gujarat with a seamless and convenient travel option.
The Maha Kumbh Mela is the world’s largest public congregation of faith, drawing ascetics, saints, sadhus, sadhvis, kalpvasis, and pilgrims from all walks of life. Scheduled to take place in Prayagraj from January 13, 2025 to February 26, 2025, the Maha Kumbh Mela is held every 12 years, making it a once-in-a-lifetime spiritual experience for millions.
Debojo Maharshi, Chief Business Officer of SpiceJet, said, “The Maha Kumbh Mela is not just a religious event but a celebration of faith, devotion, and unity. At SpiceJet, we are proud to facilitate this incredible journey by offering seamless connectivity and a comfortable travel experience. With our special daily flights to Prayagraj from four major cities, we aim to ensure that devotees from across India can participate in this sacred event without travel concerns.”
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
About the Company
SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. Most of the airline's fleet offers SpiceMax, India's most spacious economy-class seating.
According to Quarterly Results, the company reported net sales of Rs 1,708 crore, operating profit of Rs 49 crore and net profit of Rs 158 crore in Q1FY25. In its annual results, the company reported net sales of Rs 7,085 crore, an operating loss of Rs 644 and a net loss of Rs 424 crore in FY24.
The company has a market cap of over Rs 7,500 crore. According to the shareholding pattern of September 2024, FIIs bought 27,86,70,546 shares or a 21.06 per cent stake and increased their stake to 22.87 per cent compared to 1.81 per cent in June 2024 while DIIs bought 6,74,55,674 shares or 3.30 per cent stake in the company and increased their stake to 8.45 per cent in September 2024 compared to June 2024. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.