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10-19-2013, 05:47 AM #1
SpiceJet shares surge over 3 per cent amid stake sale reports
SpiceJet shares rose over 3 per cent on Friday amid media reports that the airline is in stake sale talks with a foreign carrier.
"Qatar Airways is in talks with SpiceJet for a possible acquisition of 24 per cent stake in the Indian low-cost airline," a report said.
Reacting to the news, shares of the budget carrier - after surging 7.26 per cent to Rs 22.15 intra-day - ended the day at Rs 21.35, up 3.39 per cent from its previous close on the Bombay Stock Exchange.
On volumes front, 82.25 lakh shares of the company changed hands on BSE.
Meanwhile, in a clarification to the exchange, SpiceJet on Friday said: "We wish to reiterate that a few investors have evinced interest in the company post Government of India allowing FDI in civil aviation sector to foreign airlines... it will be improper and pre-mature to comment on the possibilities of any fresh equity issuance to such interested parties or confirm/ deny names of any specific entity."
The airline further added that it is misconceived to say that the company is in talks with Qatar Airways for possible stake sale. These are speculative media reporting, it noted.