Last Updated: July 28, 2022, 13:49 IST
Shares of SpiceJet hit over a two-year low of Rs 34.60 and slipped 10 per cent on the BSE on Thursday after the corporate was requested by aviation regulator DGCA to curtail its companies by half for eight weeks.
In response SpiceJet stated, it has already been operating half its accepted capability, in impact which means the regulator’s restrictive mandate would don’t have any influence on its operations.
DGCA stated any improve within the variety of flights shall be topic to “the airline demonstrating to the satisfaction of DGCA that it has sufficient technical support and financial resources to safely and efficiently undertake such enhanced capacity.”
The inventory of the airline firm was quoted at its lowest stage since March 2020. At 09:56 AM; it traded 7 per cent decrease at Rs 35.75, as in comparison with 0.96 per cent rise within the S&P BSE Sensex. SpiceJet has corrected 60 per cent from its 52-week excessive stage of Rs 87.25that it had touched on November 24, 2021.
The inventory has given a adverse 3-year return of 73.94 per cent as in comparison with a 56.64 per cent rise seen within the Nifty Smallcap 100. SpiceJet is a funds airline with a market cap of Rs 2,142.40 crore.