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SpiceJet up 20% in 3 months despite analysts' skepticism; should you buy?

SpiceJet news: So far this calendar year, shares of SpiceJet have fallen 20 per cent, while they have tumbled 33.16 per cent over the last one year

SpiceJet CMD Ajay Singh
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SpiceJet CMD Ajay Singh

Nikita Vashisht New Delhi

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Shares of SpiceJet have outperformed the markets over the past three months as investors checked into the counter on the back of fund raise expectations and a solid profit in the April-June quarter (Q1-FY24).

While the shares of the low-cost airline have zoomed 20 per cent during the period, the benchmark S&P BSE Sensex has added barely 3.5 per cent, and peer firm IndiGo has gained 2.4 per cent over the last three months.

Analysts, however, advise new investors to stay away from the counter for now.

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First Published: Aug 31 2023 | 10:31 AM IST

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