India's SpiceJet up 10%; report says Adani weighs airline launch, stake in existing carrier

Adani Enterprises

23/07/2026 09:27

** Indian airline SpiceJet SPJT.BO hits exchange-allowed 10% upper band to 12.32 rupees
** Set for fourth consecutive session of gains
** Adani group considering launching a new airline, a Reuters report said, citing two sources
** One ⁠of the options Adani is also considering is buying a stake in an existing airline, the second source told Reuters, adding "all options" were on the table
** "The media reports about a potential Adani airline launch has created some buzz about potential acquisition of an existing airline, fuelling a rally in SpiceJet shares," a trader said 
** Indigo INGL.NS, India's biggest airline, down 1.3%
** Earlier this week, Financial Express also reported that a Gulf-based airline has conducted due diligence to evaluate potential acquisition of SpiceJet
** Nearly 11 million SPJT shares change hands so far, ~2x of 30-day average trading volume
** YTD, SPJT down 46.3%

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))