NEW DELHI: Shares of SpiceJet slumped 8 per cent in morning trade on BSE Wednesday after the country banned Boeing 737 Max 8 planes following the Ethiopian Airlines crash.
On Tuesday night, the Directorate General of Civil Aviation (DGCA) announced its decision to “immediately” ground the Boeing 737 Max 8 aircraft. The decision came days after a 737 MAX 8 aircraft operated by the Ethiopian Airlines crashed near Addis Ababa killing 157 people, including four Indians.
Following the announcement, shares of SpiceJet opened on a weak note at Rs 74, then fell further to touch an intra-day low of Rs 72.50, down 7.99 per cent over its previous close of Rs 78.80.
