SpiceJet zooms up
DALAL STREET SPIKES
| Source said, the stock has been accumulated by select domestic funds, adding that post-Jet Airways issue, the stock has been re-rated by a host of broking firms. |
| In Wednesday's trading, the stock appreciated on back of announcement that it will commence its airlines operations from May 23. The airline will fly to six destinations - New Delhi, Mumbai, Goa, Bangalore, Pune and Ahmedabad - and will initially use three Boeing 737-800 planes with an all economy, 189-seat configuration. The stock has a dream run at the bourses of late. From a low of Rs 34 on January 1, 2005, the stock has appreciated to Wednesday's close of Rs 70.15. |
| The company, however, has reported a loss in the previous quarter. For the quarter ended February 28, 2005, the company posted a loss of Rs 2.95 crore as against a net profit of Rs 1.84 crore on a total income of Rs 0.21 crore. |