SpiceJet shares tumble over 11% in fag-end trade; here's what tech charts hint at
The budget carrier recently completed the allotment of equity shares to Carlyle Aviation Partners. The Allotment Committee of the Board, in its meeting on November 18, approved the issuance of 10,41,72,634 equity shares with a face value of Rs 10 each at an issue price of Rs 42.32 per share.
- Nov 24, 2025,
- Updated Nov 24, 2025 3:44 PM IST
Shares of SpiceJet tumbled 11.25 per cent to an intraday low of Rs 31.16 in the final hours of Monday's session. The stock was last trading 9.43 per cent down at Rs 31.80. Trading activity was notably high on BSE, with about 1.76 crore shares exchanged -- well above the two-week average volume of 89.09 lakh shares. The counter registered a turnover of Rs 57.37 crore and reflected a market capitalisation (m-cap) of Rs 4,076.72 crore.
The budget carrier recently completed the allotment of equity shares to Carlyle Aviation Partners. The Allotment Committee of the Board, in its meeting on November 18, approved the issuance of 10,41,72,634 equity shares with a face value of Rs 10 each at an issue price of Rs 42.32 per share.
The preferential allotment, made under the non-promoter category, has effectively removed Rs 442.25 crore ($50 million) of liabilities from the company's balance sheet. As part of the settlement framework, the agreement includes a mechanism in which any proceeds realised by the lessor above $50 million from the sale of these shares will be partly used to reduce the airline's future lease obligations.
Technically, a few analysts maintain a bearish-to-rangebound view on SpiceJet. Key support level lies at Rs 30, while resistance is seen at Rs 38 and around Rs 40–42. A break above Rs 38 may lead to gains, whereas slipping below Rs 30 could trigger further declines.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted that SpiceJet has corrected and slipped towards its short-term EMAs. He said the overall trend remains bearish, with key support near the 30 zone; a breach below this level could lead to further downside. On the upside, he pointed to immediate resistance around the 37–38 zone, and a stronger hurdle at the 200 DEMA placed around 40–42.
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, mentioned that the stock holds support at Rs 30 and faces resistance at Rs 38. According to him, a firm breakout above Rs 38 could open room for a move towards Rs 40, with the short-term trading range expected between Rs 30 and Rs 40. On the downside, he added that a fall below Rs 30 may drag the stock towards Rs 28.5.
Shares of SpiceJet tumbled 11.25 per cent to an intraday low of Rs 31.16 in the final hours of Monday's session. The stock was last trading 9.43 per cent down at Rs 31.80. Trading activity was notably high on BSE, with about 1.76 crore shares exchanged -- well above the two-week average volume of 89.09 lakh shares. The counter registered a turnover of Rs 57.37 crore and reflected a market capitalisation (m-cap) of Rs 4,076.72 crore.
The budget carrier recently completed the allotment of equity shares to Carlyle Aviation Partners. The Allotment Committee of the Board, in its meeting on November 18, approved the issuance of 10,41,72,634 equity shares with a face value of Rs 10 each at an issue price of Rs 42.32 per share.
The preferential allotment, made under the non-promoter category, has effectively removed Rs 442.25 crore ($50 million) of liabilities from the company's balance sheet. As part of the settlement framework, the agreement includes a mechanism in which any proceeds realised by the lessor above $50 million from the sale of these shares will be partly used to reduce the airline's future lease obligations.
Technically, a few analysts maintain a bearish-to-rangebound view on SpiceJet. Key support level lies at Rs 30, while resistance is seen at Rs 38 and around Rs 40–42. A break above Rs 38 may lead to gains, whereas slipping below Rs 30 could trigger further declines.
Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted that SpiceJet has corrected and slipped towards its short-term EMAs. He said the overall trend remains bearish, with key support near the 30 zone; a breach below this level could lead to further downside. On the upside, he pointed to immediate resistance around the 37–38 zone, and a stronger hurdle at the 200 DEMA placed around 40–42.
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, mentioned that the stock holds support at Rs 30 and faces resistance at Rs 38. According to him, a firm breakout above Rs 38 could open room for a move towards Rs 40, with the short-term trading range expected between Rs 30 and Rs 40. On the downside, he added that a fall below Rs 30 may drag the stock towards Rs 28.5.