SpiceJet hits over three-month low

The stock dipped nearly 11% to Rs 55.15, its lowest level since November 20, 2015 on the BSE in intra-day trade.

SpiceJet has slumped nearly 11% to Rs 55.15, its lowest level since November 20, 2015 on the BSE in intra-day trade.

On Friday the Delhi High Court asked SpiceJet to pass a board resolution for issuing share warrants to Maran and Kal Airways according to the sale agreement of 2015 which led to change in ownership of the carrier, the Business Standard report suggests.

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At 12:50 PM, the stock was trading at Rs 58.55, down 5% on the BSE. Around 10.7 million shares changed hands on the counter against an average 8.4 million shares that were traded daily in past two weeks on the BSE.

The stock tanked 42% from its 52-week high of Rs 95.30 touched on January 28, 2016 in intra-day trade. The S&P BSE Sensex was up 1% during the same period.