Spicejet shares surge over 5%

Shares of Spicejet today surged over 5 per cent amid reports that two Gulf airlines have approached the company for buying a stake in the domestic firm.

Following the buzz, the stock rose by 5.22 per cent to Rs 23.15 on BSE.

On the volume front, 29.97 lakh shares of the company were traded at BSE during the morning trade.

According to media reports, two big Gulf airlines have approached Ajay Singh-promoted SpiceJet for buying a stake in the airline.

Meanwhile, the benchmark BSE Sensex was trading at 28,337.42, down 121.38 points at 1230 hrs.