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SpiceJet flies high on planning to start new airline in UAE

Spicejet is currently trading at Rs. 116.45, up by 0.80 points or 0.69% from its previous closing of Rs. 115.65 on the BSE.

The scrip opened at Rs. 117.45 and has touched a high and low of Rs. 117.45 and Rs. 115.65 respectively. So far 99707 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 156.90 on 03-Jun-2019 and a 52 week low of Rs. 69.30 on 25-Oct-2018.

Last one week high and low of the scrip stood at Rs. 121.70 and Rs. 115.30 respectively. The current market cap of the company is Rs. 6935.74 crore.

The promoters holding in the company stood at 59.96%, while Institutions and Non-Institutions held 13.13% and 26.90% respectively.

SpiceJet is planning to launch a new airline with the Ras Al Khaimah International Airport as its base as well as set up its first overseas hub in the UAE emirate. The airline is looking to make the emirate its stepping stone into Europe, and has been mulling an international hub as India’s airports become more congested.

SpiceJet is among the first private companies that stepped into the Indian aviation sector.

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