SpiceJet Rises 7% After 3 Days Of Losses, Here's Why

SpiceJet shares surged 7% in Wednesday’s afternoon trade, snapping a three-day losing streak, after the Supreme Court dismissed a ₹1,300 crore damages appeal filed by Kalanidhi Maran and Kal Airways. The appeal had challenged a Delhi High Court order that rejected their claim due to significant delays in filing and refiling. The Supreme Court's decision provided a sentiment boost for investors, reinforcing SpiceJet’s legal position in the long-standing dispute. The case dates back to 2015, when Maran and Kal Airways transferred their stake in the airline to Ajay Singh, who took over liabilities of around ₹1,500 crore. With this ruling, SpiceJet gains both legal clarity and investor confidence.