Written By: Mobin
SpiceJet shares gained 6.4% on the BSE, taking the stock to an intraday high of ₹48.9.
Plutus Wealth Management LLP bought 9 million shares of SpiceJet at ₹46 per share. SpiceJet shares are expected to rise further.
Plutus Wealth holds 1.29% stake in SpiceJet. It has been buying shares for the last few months, leading to a surge in the shares.
Talking about profit, SpiceJet earned a net profit of ₹20.2 crore in Q3FY25, while there was a loss of ₹299 crore in the same period last year.
The airline's fuel expenses fell by 46.9% to ₹415.2 crore in Q3, which is moving it towards further profit.
Talking about market cap, SpiceJet's market capitalization is ₹6,241.81 crore, which puts it in an even stronger position.
In the bulk deal, Plutus Wealth bought 7.5 million shares in October 2024 and 8.5 million shares in September 2024.