Promoters Bought 9,96,14,052 Shares: Penny Airline Stock Under Rs 50 Jumps Over 6 Per Cent On April 15
The stock is up by 19 per cent from its 52-week low of Rs 39.91 per share.
On Tuesday, shares of SPICEJET LTD jumped over 6 per cent to Rs 47.50 per share from its previous closing of Rs 44.72 per share. The stock’s 52-week high is Rs 79.90 per share and its 52-week low is Rs 39.91 per share. The stock is up by 19 per cent from its 52-week low of Rs 39.91 per share.
The promoters of the company bought 9,96,14,052 shares and increased their stake to 33.47 per cent in March 2025 compared to December 2024. Additionally, Authum Investment & Infrastructure Limited holds 2.65 per cent stake and Plutus Wealth Management LLP holds a 2.71 per cent stake in the company as of March 2025.
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.
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Despite a 35 per cent year-over-year (YoY) drop in sales to Rs 1,237.0 crore, compared to Rs 1,914.4 crore in Q3 FY23e, the company demonstrated a significant financial recovery; EBITDA losses narrowed by 21 per cent YoY to Rs -188 crore, and net profit turned positive at Rs 25 crore, a 108 per cent YoY improvement. This positive shift, alongside a 104 per cent increase in EPS to Rs 0.19, was largely attributed to a 72.3 per cent surge in other income to Rs 417.1 crore, which compensated for the operational revenue decline.
Additionally, SpiceJet is launching a new daily, non-stop flight between Delhi and Kathmandu starting May 10, 2025, its first new international route after a successful INR 3,000 Crore QIP. Operated by Boeing 737 aircraft with convenient morning departures, this expansion strengthens SpiceJet's international presence beyond Dubai and Bangkok, leveraging improved financial health from recent credit rating upgrades and investments to enhance connectivity between the culturally rich and business-important cities of Delhi and Kathmandu.
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 6,000 crore.
Disclaimer: The article is for informational purposes only and not investment advice.