SpiceJet shares slide 7%; hit 52-week low degree | Markets News

New Delhi: Shares of SpiceJet continued to fall on Wednesday, declining 7 per cent to hit its one-year low degree, amid a number of cases of its planes struggling technical glitches in latest weeks.

The scrip tanked 7 per cent to hit its 52-week low of Rs 35 on the BSE.

SpiceJet shares opened at Rs 37.10 apiece after falling 2.33 per cent to shut at Rs 37.65 on Tuesday, a day when its Dubai-bound airplane was diverted to Karachi resulting from malfunctioning of the gasoline indicator.

In morning commerce on Wednesday, shares of the airline had been buying and selling 2.66 per cent down at Rs 36.65 apiece.

The broader market was within the constructive territory and the benchmark Sensex rose practically 400 factors to 53,533.84 factors.

SpiceJet’s Delhi-Dubai flight suffered a mid-air malfunction in its gasoline indicator on Tuesday and was diverted to Karachi and cracks developed on the windshield of one other airplane of the funds service at a top of 23,000 ft forcing a precedence touchdown in Mumbai in a double whammy for the airline.

The two episodes on a single day have taken the full variety of technical malfunction incidents involving SpiceJet plane to seven within the final over a fortnight.

According to officers of the Directorate General of Civil Aviation (DGCA), the aviation regulator is investigating all of the seven incidents.

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