founder in talks to buy stake

Spicejet

13/10/2023 10:50

** Shares of budget carrier SpiceJet  SPJT.BO  rise as much
as 20% to 43.82 rupees, their highest since Sept 20, 2022
    ** Stock logs largest intraday pct climb since March 20,
2019
    ** Rakesh Gangwal, IndiGo  INGL.NS  co-founder, is in talks
to buy stake in SPJT, ET Now reported on Friday citing sources
    ** SPJT did not immediately respond to Reuters' requests for
comment
    ** Stock on track to rise for fourth straight session, if
trend holds
    ** Nearly 31.7 mln shares change hands as of 3:16 p.m., 8.1X
the 30-day moving average
    ** Stock up 13.1% YTD

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))