SpiceJet stock jumps 8% on major shareholder's stake sale
Business
SpiceJet's stock got a nice boost—up nearly 8%—after Authum acquired over 10 crore shares by invoking pledged collateral that had been provided by promoter Ajay Singh as security against Spice Healthcare's obligations.
While this gave the airline's share price a lift, it's still trading way below last year's high, so there's some ground left to cover.
Airline's market share more than doubled from September to December
The airline has been making moves lately: its market share more than doubled from September to December, thanks in part to adding 16 new planes.
Looking ahead, SpiceJet wants to ramp up even more—planning over 300 daily flights by winter and bringing grounded aircraft back into action.