SpiceJet shares rose as much as 15% to a 52-week high of ₹152 while another carrier InterGlobe Aviation, which operates IndiGo, also attracted strong buying. The total number of planes SpiceJet plans to induct in the immediate future now stands at 27. SBICap has a target price of ₹175 on SpiceJet shares. "If it takes longer to resolve the Jet Airways issue, SpiceJet could well lease more planes (Jet Airways had a total of 84 Boeing 737 NGs)," SBICap added. SpiceJet shares were up 7% at ₹142 in noon trade.
Source: Mint April 18, 2019 05:24 UTC