SpiceJet rallies on heavy volumes

Around 9.86 million shares representing over 2% free-float equity of the company have changed hands till 1146 hours on BSE.

SpiceJet has rallied 12% to Rs 34.90 on the Bombay Stock Exchange on back of heavy volumes after Abu Dhabi-based Etihad Airways said it is acquiring 24% stake in rival Jet Airways at over 30% premium to Jet's closing share price on Tuesday.

SpiceJet stock opened at Rs 35.50 and hit a high of Rs 36 so far. Around 9.86 million shares representing over 2% free-float equity of the budget carrier have changed hands till 1146 hours compared to an average 2.2 million shares that were traded daily in past two weeks.