SpiceJet shares dive 7% in late deals today; here's why

Shares of budget carrier SpiceJet Ltd recorded a sharp fall in late trading session on Friday. The stock tumbled 6.95 per cent to hit an intraday low of Rs 49. It was last seen trading 5.81 per cent lower at Rs 49.60. At this price, it has slipped 18.33 per cent in the past one month.

Today's fall in the stock price came after the airline said it would unground 10 aircraft by mid‐April 2025. "SpiceJet will unground 10 aircraft by mid‐April 2025 further strengthening its network and operational capabilities. These will include four Boeing 737 MAX planes," it stated in a release.

"This initiative will significantly increase the current fleet size of 28 aircraft, even as some aircraft are redelivered to lessors during the same period. SpiceJet added 10 planes to its fleet since October 2024, comprising three previously grounded aircraft brought back into service and seven inducted on lease," the carrier added.

Over the past three months, SpiceJet said its network expansion strategy has resulted in the addition of more than 60 new flights, further enhancing connectivity and service options for its passengers.

Last month, SpiceJet signed an agreement with StandardAero Inc, a leading US‐based engine MRO, for the restoration of its grounded MAX fleet. In addition, the airline has resolved disputes with several major lessors and partners in the last two months.

Technically, the scrip traded lower than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The stock's 14-day relative strength index (RSI) came at 30.26. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a negative price-to-equity (P/E) ratio of 14.54 against a price-to-book (P/B) value of (-)2.61. Earnings per share (EPS) stood at (-)3.62 with a return on equity (RoE) of 17.95. Promoters held a 29.13 per cent stake in SpiceJet during the September 2024 quarter.

The scrip saw high trading volume today as around 59.98 lakh shares changed hands at the time of writing this story. The figure was higher than the two-week average volume of 53.01 lakh shares. Turnover on the counter came at Rs 30.65 crore, commanding a market capitalisation (m-cap) of Rs 6,340.50 crore.