Tuesday, November 26, 2019

SpiceJet fund raise news denied; stock may react

Though the SpiceJet stock dropped 2.92 per cent intra-day, it recovered sharply and ended in positive territory. One reason for the recovery could be the news in market circles that the low-cost carrier, which is facing a financial crunch, may go for a ₹750-crore fund-raise through a QIP. However, in a clarification to the BSE on Monday, SpiceJet said, “... the company does not have any plan to come with any QIP at this time.” The shares of SpiceJet closed at ₹109.65, up 0.14 per cent.
25/11/19 Business Line

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