On Thursday, SpiceJet’s stock experienced a notable decline, dropping more than 6% for the fourth consecutive trading session. The shares fell to ₹45.48 each on the Bombay Stock Exchange (BSE), marking a total decline of nearly 10% over the past four days. This downturn comes in the wake of a significant block deal involving Ajay Singh, the company’s Chairman and Managing Director, who sold a substantial number of shares.
Block Deal Details
During the trading session, Ajay Singh divested 1,15,38,462 shares, which equates to approximately 0.89% of SpiceJet’s total stake. This transaction was executed at an average price of ₹45.34 per share, resulting in a total revenue of around ₹52 crore. As of December 31, 2024, SpiceJet’s promoter group maintained a 29.13% ownership stake in the airline, with Singh personally holding 22.9%, along with other family trusts and entities.
- Shareholding Breakdown:
- Ajay Singh: 22.9%
- Ajay Singh HUF: 3.54%
- Kalpana Singh: 0.02%
- Spice Healthcare Pvt. Ltd.: 2.67%
- Public shareholders: 70.87%
Market Performance Insights
The performance of SpiceJet’s stock has shown considerable volatility. Year-to-date, the shares have depreciated by over 19%. Furthermore, they have plummeted by 36.5% in the last six months. In a broader view, over the past year, the stock has seen a 10% drop, although it has appreciated by 32% over the last two years.
- Stock Performance Metrics:
- 52-week high: ₹79.90 (November 16, 2024)
- 52-week low: ₹39.91 (February 18, 2025)
On Thursday, SpiceJet’s stock closed at ₹45.48, reflecting a 6.38% decrease and a market capitalization of ₹5,829.11 crore. This ongoing decline raises concerns among investors, especially in light of broader market trends affecting many large-cap stocks.
For those interested in the airline sector’s dynamics, tracking SpiceJet’s performance will be crucial, especially as it navigates through these challenging market conditions.
