Multibagger airline stock at Rs 63 and FIIs & DIIs increase stake: Company to Upgrade Delhi-Bangkok Flight to Wide-Body Airbus A340

The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 24.75 per share whereas BSE Small-Cap Index is up by 63 per cent in the same period.

Today, shares of SpiceJet Ltd surged 1.5 per cent to Rs 62.95 per share from its previous closing of Rs 62.02. The stock’s 52-week high is Rs 77.50 and its 52-week low is Rs 22.65. The stock gave multibagger returns of over 150 per cent from its 52-week low of Rs 24.75 per share whereas BSE Small-Cap Index is up by 63 per cent in the same period.

SpiceJet Ltd announced the upgrade of its daily Delhi-Bangkok flight to a wide-body Airbus A340, replacing the narrow-body Boeing 737. This enhancement will increase the seating capacity to 324 passengers per flight on the route, catering to the high demand during the holiday season. The upgraded service will commence on May 31 and continue until June 20, 2024. With visa-free entry for Indians, Bangkok remains an attractive destination for travellers seeking work and leisure opportunities.

In addition to this, SpiceJet also operates daily flights to Bangkok from Kolkata and has recently announced its foray into the beautiful island paradise of Phuket. Starting May 31, 2024, the airline will offer daily non-stop flights connecting Delhi and Phuket, with conveniently timed schedules to ensure a hassle-free travel experience. Bangkok, the vibrant capital of Thailand, is a major hub for both business and leisure travellers. Known for its bustling markets, ornate temples, and dynamic nightlife, the city offers a unique blend of tradition and modernity.

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Debojo Maharshi, Chief Business Officer, SpiceJet, said, “We are excited to upgrade our Delhi-Bangkok flight to the wide-body Airbus A340. This move underscores our commitment to providing our passengers with enhanced comfort and increased capacity during the peak holiday season. With the addition of daily flights to Phuket and our existing services to Bangkok, SpiceJet continues to expand its footprint in Thailand, offering our passengers more travel options and convenience.”

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. The majority of the airline's fleet offers SpiceMax, the most spacious economy-class seating in India.

The company has a market cap of Rs 4,850 crore. According to the shareholding pattern of March 2024, FIIs increased their stake to 1.73 per cent and DIIs increased their stake to 5.30 per cent compared to 0.33 per cent and 0.04 per cent in December 2023. Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.