SpiceJet gained 4.43% to Rs 14.10 at 15:14 IST on BSE, with the stock reversing intraday slide on bargain hunting after steep recent slide.
Meanwhile, the BSE Sensex was down 547.51 points or 2% to 26,772.05
The stock saw huge volume. On BSE, so far 3.33 crore shares were traded in the counter, compared with an average volume of 68.20 lakh shares in the past one quarter.
The stock saw high intraday volatility. The stock gained as much as 8.85% at the day's high of Rs 14.75 so far during the day. The stock lost as much as 16.97% at the day's low of Rs 11.25 so far during the day. The stock hit a 52-week high of Rs 22.20 on 26 May 2014. The stock hit a 52-week low of Rs 11.10 on 13 August 2014.
The stock had underperformed the market over the past one month till 15 December 2014, falling 11.03% compared with 2.59% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 0.44% as against Sensex's 1.88% rise.
The small-cap company has an equity capital of Rs 599.45 crore. Face value per share is Rs 10.
Shares of SpiceJet had dropped 16.35% in three trading days to Rs 13.55 on 15 December 2014 from a recent high of Rs 16.20 on 10 December 2014.
According to reports, SpiceJet on Monday, 15 December 2014, evening got a breather with indications that state-run Airports Authority of India (AAI) would not press for immediate clearing of Rs 200 crore dues after the airline's promoter Kalanithi Maran gave personal guarantees to infuse more funds.
The development took place after the no-frill airline's Chief Operating Officer Sanjiv Kapoor reportedly met Civil Aviation Minister Ashok Gajapathi Raju last evening. The government has asked it to continue operations over the next fortnight.
Reports indicated that the AAI, which had given time to SpiceJet till Monday, 15 December 2014, to clear its dues, would not press the deadline and give the airline more time to pay up.
The airline sought urgent financial help from the government to run its daily operations but received no categorical assurances from it, reports said.
The airline's total liability reportedly stands at over Rs 2000 crore and it needs at least Rs 1400 crore immediately to keep it off the ground.
The no-frills carrier is facing tough business conditions and the situation has only worsened in recent days with cancellation of flights.
SpiceJet reported a net loss of Rs 310.45 crore in Q2 September 2014, lower than net loss of Rs 559.49 crore in Q2 September 2013. Net sales rose 15.2% to Rs 1435.86 crore in Q2 September 2014 over Q2 September 2013.
SpiceJet is India's second largest airline by domestic passenger share.
Powered by Capital Market - Live News
