SpiceJet board meet deferred amid stock rally
Budget carrier SpiceJet on Friday said the company has rescheduled its board meeting to Monday to consider raising fresh capital through the issue of eligible securities to qualified institutional buyers.
Shares of the airline surged over 12 per cent after the company reported a higher net profit of Rs 107 crore in the three months ended December. The carrier had a net profit of Rs 23.28 crore in the year-ago period.
The stock jumped 12.31 per cent to settle at Rs 39.70 on the BSE. During the day, it rallied 15.27 per cent to Rs 40.75. In volume terms, 25.44 lakh shares were traded on the BSE during the day.
