SpiceJet airline shares saw a rise of about 20% on Friday (October 13). According to media reports, former IndiGo airline co-founder Rakesh Gangwal may soon buy stake in BSE-listed firm SpiceJet.
According to reports, Rakesh Gangwal's talks with SpiceJet to buy the airline's stakes are in advanced stage. SpiceJet's shares have been rising ever since this news came out. Today, SpiceJet shares closed at Rs 43.60 with a rise of more than 19%.
According to the latest report of ET-Now, SpiceJet is currently making efforts to revive the airline. Since this development, the shares of SpiceJet have been witnessing a continuous rise. In the last five days, SpiceJet shares have given returns of more than 25% to its investors.
The company's shares have risen by about 13% in the last one month and by about 36% in the last 6 months. If we talk about one year, the company's shares have seen an increase of about 12%. The market capitalization of SpiceJet is Rs 2.98 thousand crore.
Rakesh Gangwal and his wife Shobha Gangwal held 13.23% and 2.99% stake in IndiGo operator InterGlobe Aviation as of end-June, according to exchange data. Whereas, the stake of his Chinkarpu Family Trust was 13.5%.
According to reports, IndiGo is operating more than 1900 flights daily with its fleet of more than 320 aircraft. This airline covers 81 domestic destinations and 32 international destinations.
According to the latest data of Director General of Civil Aviation (DGCA), IndiGo has the highest share of 63.4% in the domestic market in the month of September. Whereas SpiceJet has 4.4% market share.
