India's SpiceJet jumps on settlement of $16 mln dispute with Genesis

Spicejet

19/12/2024 07:18

** Shares of Indian budget carrier SpiceJet  SPJT.BO  rise
8% to 60 rupees, its biggest intraday gain since Oct 8
    ** Co on Thursday said it reached a settlement with Genesis,
resolving their over $16 million dispute
    ** Under the agreement, co will pay Genesis $6 mln and
Genesis will acquire $4 mln in co's equity 
    ** Stock set to snap a three-day losing streak
    ** Stock up ~1% so far in 2024

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com;))