India's SpiceJet drops after fundraise plan, Q2 results

Spicejet

12/12/2023 09:51

** Shares of low-cost carrier SpiceJet  SPJT.BO  drop as
much as 8.7% to 55.30 rupees
    ** If losses hold, stock set to snap 3-day winning run, it
rose 39% over the 3 sessions
    ** SPJT says will raise 22.5 bln rupees ($269.95 mln) via
preferential shares and warrants 
    ** Co's Sept-qtr loss narrows to 4.32 bln rupees from 8.38
bln rupees last year
    ** However, revenue from operations fell 32.4%
    ** More than 43 mln shares traded, 4.5x 30-day avg volume 
    ** SPJT last down 3.5%; stock up 50% YTD after declining in
the previous three years 

($1 = 83.3480 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))