Promoter bought 9,95,19,052 shares: Airline penny stock under Rs 50 jumps 4.45 per cent with heavy volume; Here’s why!
The stock is up by 14.7 per cent from its 52-week low of Rs 39.91 per share.
On Monday, shares of SPICEJET LTD jumped 4.45 per cent to Rs 45.78 per share from its previous closing of Rs 43.83 per share with a spurt in volume by more than 1.3 times on the BSE. 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 14.7 per cent from its 52-week low of Rs 39.91 per share.
SpiceJet Ltd. announced that the Delhi High Court Division Bench, in its order dated May 23, 2025, dismissed the appeal filed by KAL Airways and Kalanithi Maran. This appeal sought damages exceeding Rs 1,300 crore and other claims. It's important to note that these assertions had previously been rejected by an Arbitral Tribunal, comprising three retired Supreme Court judges, and subsequently by the Single-Judge Bench of the Delhi High Court. This latest ruling reaffirms the prior rejections of these substantial damage claims.
Earlier, the company successful ungrounding and re-induction of another Boeing 737 NG aircraft, registration VT-SGV, into its operational fleet, effective today. This marks a continued positive step in the airline's structured efforts to return its grounded aircraft to active service, bolstering its operational capabilities and network strength as part of its ongoing recovery strategy.
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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. The majority of the airline's fleet offers SpiceMax, the most spacious economy-class seating in India.
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.
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 a 2.65 per cent stake and Plutus Wealth Management LLP holds a 2.71 per cent stake in the company as of March 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. The company has a market cap of over Rs 5,500 crore.
Disclaimer: The article is for informational purposes only and not investment advice.