SpiceJet tanks 19%, crashes to near 8-year low on heavy volumes

Shares of SpiceJet were quoting close to an eight-year low of Rs 22.65, as they tanked 19 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes. The stock of the airline company was quoting at its lowest level since June 2015.

At 01:50 PM, SpiceJet was trading 14.5 per cent lower at Rs 24.01, as compared to 0.36 per cent rise in the S&P BSE Sensex. The average trading volume on the counter jumped over eight-fold today with around 11.47 million equity shares, representing 1.9 per cent of total equity of SpiceJet, having changed hands on the BSE.