SpiceJet has moved up in noon trades on news of international operations.

The stock opened at Rs 59.40 and surged to a high of Rs 61.40 - up 4%. It is now trading with a 3.3% gain at Rs 60.90. Around 1.86 million shares have changed hands at the counter on the BSE so far.

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Wilbur Ross, Goldman Sachs and Dubai's Istithmar may raise stake in low-cost carrier SpiceJet to 40% as they are likely to convert their debt holdings in the firm to equity. Ross, Goldman Sachs and Istithmar had together invested $100 million in the five-year-old airline in 2008. Of this, Ross' individual investment was $68 million.

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