Sri Lanka is trending, especially among Indian travellers, given its proximity, connectivity, pristine beaches, boutique hotels, safari parks and outstanding experiences for travellers. According to the numbers released by the Sri Lankan tourism board, the island nation clocked 2
SpiceJet Shares Soar 14%, Extend Two-Day Rally As IndiGo Disruptions Boost Sentiment
SpiceJet Shares Soar 14%, Extend Two-Day Rally As IndiGo Disruptions Boost Sentiment
SpiceJet shares jumped 14 per cent to Rs 35.50 on the BSE in intraday trade on Monday, supported by strong volumes even as the broader market remained muted. By 9:47 AM, the stock was still up 12 per cent at Rs 34.87, compared with a 0.26 per cent drop in the BSE Sensex.
Trading activity surged sharply, with 20.62 million shares changing hands on the BSE—more than double the two-week average volume of 7.4 million shares, according to exchange data.
The rally comes as widespread delays and cancellations at rival InterGlobe Aviation, the parent of IndiGo, push more passengers toward SpiceJet. IndiGo's operational crisis has opened an unexpected demand window for the airline, which has been adding flights to accommodate stranded travellers.
Last week, Chairman and Managing Director Ajay Singh said SpiceJet would deploy 100 additional flights over the coming days. “What happened is extremely unfortunate and has caused huge inconvenience to passengers," Singh said. “We are attempting to help by running 100 additional flights… We welcome the government's decision to constitute a committee to investigate the issue."
Despite Monday's sharp upmove, SpiceJet shares are still down 43 per cent over the past year and remain close to their 52-week low of Rs 28.13.
Technical indicators continue to show weakness.
The 14-day Relative Strength Index (RSI) is at 37.8, signalling bearish momentum that has started to stabilise but is not yet oversold. Price action remains soft, with the stock trading below six of the eight key Simple Moving Averages (SMAs), indicating that the longer-term trend is still negative.
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Promoter holding dipped marginally to 33.45 per cent in Q2 FY25, while promoter pledging rose to 47.69 per cent—an elevated level that typically signals financial strain. FIIs reduced their stake sharply from 11.79 per cent to 7.95 per cent, and mutual funds trimmed their holdings slightly from 1.94 per cent to 1.92 per cent.
Revenue fell 23.1 per cent year-on-year to Rs 828 crore, while net loss widened to Rs 634 crore, underscoring the challenges SpiceJet continues to face despite the temporary tailwinds from IndiGo's disruptions.
Source: News18
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Sri Lanka is trending, especially among Indian travellers, given its proximity, connectivity, pristine beaches, boutique hotels, safari parks and outstanding experiences for travellers. According to the numbers released by the Sri Lankan tourism board, the island nation clocked 2
2 months ago
