Multibagger airline stock at Rs 61 and FIIs & DIIs increase stake; Company takes flight to paradise: Announces daily non-stop service connecting Delhi and Phuket

The stock gave multibagger returns of 169 per cent from its 52-week low of Rs 22.65 per share whereas BSE Small-Cap Index is up by 60 per cent in the same period.

Today, one of the Top Gainers on BSE, shares of SpiceJet Ltd surged 6.8 per cent to Rs 60.88 per share from its previous closing of Rs 57.01. The stock’s 52-week high is Rs 77.50 and its 52-week low is Rs 22.65. The shares of the company saw a spurt in volume by more than 1.50 times on BSE. The stock gave multibagger returns of 169 per cent from its 52-week low of Rs 22.65 per share whereas BSE Small-Cap Index is up by 60 per cent in the same period.

SpiceJet Ltd announced its foray into the beautiful island paradise of Phuket, Thailand. SpiceJet will commence daily non-stop flights connecting Delhi and Phuket, starting May 31, 2024. Phuket, Thailand’s largest island known as the “Pearl of the Andaman Sea”, is renowned for its pristine beaches, vibrant nightlife, and rich cultural heritage. From tranquil shores to bustling markets, Phuket offers an array of experiences for visitors to explore and enjoy. This new service will provide travellers with a convenient and affordable way to experience all that Phuket has to offer.

SpiceJet’s daily non-stop flights between Delhi and Phuket are conveniently timed to ensure a hassle-free travel experience. The departing flight from Delhi will take off at 9:00 AM, arriving in Phuket at 3:15 PM. The return flight departs Phuket at 4:15 PM, arriving in Delhi at 7:20 PM.

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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 over Rs 4,700 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.