Stock Market Live Updates: SpiceJet plans to raise ₹3,000 crore, shares shoot up 7% and settle at 3.28% up
In a surprising turn of events, SpiceJet shares surged by 7% to 58.65 rupees after the announcement of their plans to raise ₹3,000 crore. The shares have settled at ₹56.61, marking a 3.28% increase. This boost comes at a time when the company’s shares were previously down by about 4% in 2024.
The market reaction to SpiceJet’s fundraising plans has been positive, with investors showing confidence in the airline’s future prospects. The news has generated excitement among traders and analysts, who are closely monitoring the stock’s performance in the coming days.
SpiceJet’s decision to raise funds indicates a strategic move to strengthen its financial position and expand its operations. The airline industry has been facing challenges due to the ongoing economic uncertainties, and this capital infusion could help SpiceJet navigate through the tough market conditions.
Overall, the market sentiment towards SpiceJet seems to be optimistic, with the company’s shares showing a significant uptrend. Investors will be keeping a close eye on how SpiceJet utilizes the raised funds and whether it can capitalize on the positive momentum to drive further growth in the future.
