Spicejet Share Price: A Rollercoaster Ride
๐ Share price of Spicejet has been on the rise in recent days, reaching a 52-week high on Monday with a 7% increase in early trading. The company has announced its plans to get listed on the national stock exchange soon.
๐ฐ The share price of Spicejet has seen a significant increase in the past 6-7 months, growing by 106% from its 52-week low of Rs. 22.65 recorded on May 23, 2023. Over the past year, the company’s shares have witnessed a 37% growth, outperforming the market.
๐ This year, Spicejet shares have yielded returns of more than 52%, with positive returns in 8 out of 12 months till 2023. The month of December has been particularly impressive, with a 33% increase in share price. November also saw a growth of 23%.
๐ผ Spicejet recently received a favorable decision from the Dubai International Financial Center, which will enable the company to raise funds of up to Rs. 1,000-1,200 crores for pending salary payments. Additionally, it has the potential to revive its grounded fleet of 25 aircraft.
๐ The company has announced its intention to issue equity shares or convertible securities on December 11, 2023, to raise capital. This move is aimed at safeguarding the company’s future and restarting its grounded flight operations.
๐ช Spicejet is determined to overcome its financial struggles and revive its operations. The company has been fighting to raise funds and resume its grounded fleet. In August, Spicejet informed the NCLT that it is striving to protect its existence after being ordered to repay old dues to its former owner, Kalanithi Maran.
๐ The journey of Spicejet’s share price has been nothing short of a rollercoaster ride. With recent developments and positive market sentiment, investors are keeping a close eye on this aviation company.
Keep an eye on Spicejet as it continues to soar in the stock market! โ๏ธ๐
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