Shares of budget carrier SpiceJet zoomed 9% intraday after the airlines’ operations, safety processes and systems were found to be in order following an exhaustive audit conducted by the International Civil Aviation Organisation (ICAO). SpiceJet shares gained 8.94% to Rs 43.25 against the previous close of Rs 39.70 on BSE. The aviation stock opened flat at Rs 39.30 today.
The share stands higher than the 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages. ┬аThe stock has lost 38.11% since the beginning of this year and has fallen 38.74% in a year.
A total of 10.75 lakh shares of the firm changed hands amounting to a turnover of Rs 4.50 crore on BSE. The market cap of SpiceJet rose to Rs 2,536.78 crore. The stock hit a 52-week high of Rs 71.80 on December 15, 2021 and fell to a 52-week low of Rs 34.60 on July 28, 2022. Later, the SpiceJet stock ended 6.17% higher at Rs 42.15 on BSE.
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“SpiceJet was the only scheduled Indian airline part of the audit conducted by ICAO under Universal Safety Oversight Audit Programme (USOAP) Continuous Monitoring Approach. The audit of SpiceJet safety systems helped India achieve its highest ever safety ranking in ICAO audit,” said the air carrier in a communication to bourses.
Ajay Singh, Chairman and Managing Director, SpiceJet said, “The ICAO audit is the benchmark of safety.
We are proud that our safety culture, systems, processes and operations have been found to be in order and at par with the global best practices and safety standards.”
