Gujarat-based company bought 2,45,00,000 shares of this airline stock below Rs 50; Do you own it?

DSIJ Intelligence-2 / 24 Jul 2025/ Categories: Mindshare, Penny Stocks, Trending

Gujarat-based company bought 2,45,00,000 shares of this airline stock below Rs 50; Do you own it?

The stock is up by 3.67 per cent from its 52-week low of Rs 37.87 per share.

SpiceJet shares witnessed notable activity on July 23, 2025, when Gujarat-based Plutus Wealth Management LLP acquired 2,45,00,000 shares of the airline at an average price of Rs 38.1 per share. On the same day, Discovery Global Opportunity Mauritius Limited sold 3,11,53,621 shares at the same price.

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SpiceJet is India's favourite airline that has made flying affordable for more Indians than ever before. SpiceJet is an IATA-IOSA certified airline that operates a fleet of Boeing 737s & Q-400s and is one of the country's largest regional players operating multiple daily flights under UDAN or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy-class seating in India.

Despite a 35 per cent year-over-year (YoY) drop in sales to Rs 1,237.0 crore, compared to Rs 1,914.4 crore in Q3 FY23e, the company demonstrated a significant financial recovery; EBITDA losses narrowed by 21 per cent YoY to Rs -188 crore, and net profit turned positive at Rs 25 crore, a 108 per cent YoY improvement. This positive shift, alongside a 104 per cent increase in EPS to Rs 0.19, was largely attributed to a 72.3 per cent surge in other income to Rs 417.1 crore, which compensated for the operational revenue decline.

The promoters of the company bought 9,96,14,052 shares and increased their stake to 33.47 per cent in March 2025 compared to December 2024. Additionally, Authum Investment & Infrastructure Limited holds a 2.65 per cent stake in the company as of March 2025. In its annual results, the company reported net sales of Rs 7,085 crore, an operating loss of Rs 644 and a net loss of Rs 424 crore in FY24. The company has a market cap of over Rs 5,500 crore.

Disclaimer: The article is for informational purposes only and not investment advice.