SpiceJet shares gain over 7% as benchmark indices rebound in early trade
The stock has been gaining for the last 3 days and has risen 19.64 per cent in the period.
Shares of SpiceJet gained over 7 per cent as equity benchmark indices rebounded in early trade on Monday. The counter opened at Rs 73.01 against the previous close of Rs 71.66 on the BSE. It gained further to touch the high of Rs 77.25 - a gain of 7.8 per cent from the previous close.
The stock has been gaining for the last 3 days and has risen 19.64 per cent in the period. From today's high of Rs 77.25, the counter is around 2.79 per cent away from the 52-week high of Rs 77.5. The 52-week low of the counter is Rs 34.
Earlier on Thursday, SpiceJet said its shareholders have approved the proposal to raise up to Rs 3,000 crore through the issuance of securities.
The no-frills carrier -- which is grappling with multiple woes, including financial challenges, legal battles and grounding of aircraft -- is looking to raise money that will help it meet various obligations.
In a regulatory filing on Friday, the airline said shareholders have given their nod for the special resolution for raising funds of up to Rs 3,000 crore.
The funds are proposed to be raised through Qualified Institutional Placement (QIP) and other options.
SpiceJet, which had a fleet of 74 planes in 2019, is currently operating around 20 aircraft.
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