SpiceJet shares jump 16% after sharp rebound; can the momentum sustain?
The budget carrier recently announced new flight routes aimed at expanding its domestic network ahead of the festive and winter travel seasons.
- Oct 9, 2025,
- Updated Oct 9, 2025 8:15 PM IST
Shares of SpiceJet Ltd surged 15.91 per cent on Thursday to close at Rs 33.09, marking a strong rebound. Despite the pullback, the stock has still declined 41.35 per cent so far in calendar year 2025.
The budget carrier recently announced new flight routes aimed at expanding its domestic network ahead of the festive and winter travel seasons. The airline recently launched daily flights to Port Blair in the Andaman and Nicobar Islands and Udaipur. Earlier, it also introduced special non-stop Diwali flights connecting Ayodhya with Delhi, Bengaluru, Ahmedabad and Hyderabad, targeting the surge in festive travel demand.
On the financial front, SpiceJet reported an EBITDA loss of Rs 18 crore in Q1 FY26, compared to a profit of Rs 402 crore in the corresponding period last year. Passenger Revenue per Available Seat Kilometre (PAX RASK) stood at Rs 4.74, while the Passenger Load Factor (PLF) remained healthy at 86 per cent, indicating steady demand despite operational challenges. The airline’s net worth improved to Rs 446 crore from a negative Rs 2,398 crore in Q1 FY25, supported by ongoing financial restructuring efforts.
From a technical standpoint, analysts said the stock has shown signs of short-term recovery after bouncing from strong support levels, though the overall setup remains cautious.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said SpiceJet has seen some recovery but remains in a long-term downtrend. "The stock might find support around Rs 28, while a strong resistance persists near Rs 36. A decisive breakout above this level could trigger fresh buying momentum," he noted.
Drumil Vithlani, Technical Analyst at Bonanza, said the rebound from Rs 28 suggests short-covering and a potential bottom formation. "While the broader structure remains weak, the current upmove could lead to a recovery towards Rs 35–37 in the near term. A sustained close above Rs 37 may extend the rally to Rs 41, whereas immediate support is seen at Rs 30, which should act as a strict stop loss," he added.
Sebi-registered analyst AR Ramachandran said SpiceJet looks bullish on daily charts with strong support at Rs 28.56. "A daily close above Rs 33.3 could open the door for an upside target of Rs 37.40 in the near term," he said.
As of June 2025, promoters held a 33.46 per cent stake in the airline.
Shares of SpiceJet Ltd surged 15.91 per cent on Thursday to close at Rs 33.09, marking a strong rebound. Despite the pullback, the stock has still declined 41.35 per cent so far in calendar year 2025.
The budget carrier recently announced new flight routes aimed at expanding its domestic network ahead of the festive and winter travel seasons. The airline recently launched daily flights to Port Blair in the Andaman and Nicobar Islands and Udaipur. Earlier, it also introduced special non-stop Diwali flights connecting Ayodhya with Delhi, Bengaluru, Ahmedabad and Hyderabad, targeting the surge in festive travel demand.
On the financial front, SpiceJet reported an EBITDA loss of Rs 18 crore in Q1 FY26, compared to a profit of Rs 402 crore in the corresponding period last year. Passenger Revenue per Available Seat Kilometre (PAX RASK) stood at Rs 4.74, while the Passenger Load Factor (PLF) remained healthy at 86 per cent, indicating steady demand despite operational challenges. The airline’s net worth improved to Rs 446 crore from a negative Rs 2,398 crore in Q1 FY25, supported by ongoing financial restructuring efforts.
From a technical standpoint, analysts said the stock has shown signs of short-term recovery after bouncing from strong support levels, though the overall setup remains cautious.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said SpiceJet has seen some recovery but remains in a long-term downtrend. "The stock might find support around Rs 28, while a strong resistance persists near Rs 36. A decisive breakout above this level could trigger fresh buying momentum," he noted.
Drumil Vithlani, Technical Analyst at Bonanza, said the rebound from Rs 28 suggests short-covering and a potential bottom formation. "While the broader structure remains weak, the current upmove could lead to a recovery towards Rs 35–37 in the near term. A sustained close above Rs 37 may extend the rally to Rs 41, whereas immediate support is seen at Rs 30, which should act as a strict stop loss," he added.
Sebi-registered analyst AR Ramachandran said SpiceJet looks bullish on daily charts with strong support at Rs 28.56. "A daily close above Rs 33.3 could open the door for an upside target of Rs 37.40 in the near term," he said.
As of June 2025, promoters held a 33.46 per cent stake in the airline.