SpiceJet shares surge to 50%, Indigo up 29% in November
Shares of SpiceJet Ltd have surged to over 50% and those of Indigo were not far behind with a rise of nearly 29% in the month of November so far even as data from the Directorate General of Civil Aviation (DGCA) has shown there has been a recovery in domestic passenger traffic.
As of 12:55pm, SpiceJet was trading at Rs.75.60 on NSE up by 14.64% from the previous day, and Rs.74.55 on BSE marking a surge by 12.36% as of 1:50pm. This has the most during the course of a trading day since December 2019 and has also been at its highest since March this year. Around the same time Interglobe Aviation Ltd, the parent company of Indigo, was trading at Rs 1,696.50 on NSE and Rs 1697.05 on BSE, down by 0.32% and 0.30% respectively.
SpiceJet’s fortunes have also been favoured by the US Federal Aviation Administration (FAA), which has cleared the return of Boeing MAX aircraft for operations. The Boeing 737 MAX was grounded after two fatal crashes in 2018 and 2019, which killed all the passengers on-board. DGCA has asked for “some time” to study the FAA report before taking a final call on allowing Boeing 737 MAX back on the air, according to news agency PTI.
