{"id":103362,"date":"2023-05-24T14:50:00","date_gmt":"2023-05-24T09:20:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=103362"},"modified":"2023-05-24T15:06:22","modified_gmt":"2023-05-24T09:36:22","slug":"airlines-stock-rise-over-8-after-falling-for-six-straight-sessions-heres-why","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/airlines-stock-rise-over-8-after-falling-for-six-straight-sessions-heres-why\/","title":{"rendered":"Airlines stock rise over 8% after falling for six straight sessions; Here&#8217;s why"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2283700988\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of&nbsp;Spicejet Ltd. surged 8% on Wednesday to Rs 26.09&nbsp;apiece from the previous close price of \u20b9 24.20.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-849460790\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>One of the probable reasons for the stock price to surge today is the company&#8217;s positive announcements, to restore four of the 25 grounded aircraft by June 15, as well as the announcement of a second pay increase for pilots in seven months. These announcements added some kind of relief to the stock, which traded in green after six days.<\/p><p>As per bulk deal data available with the BSE, Nuvama Wealth Finance has sold 68.4 lakh shares, or 1.1 percent, in SpiceJet at an average price of Rs 24.88 per share, amounting to Rs 17.01 crore via open market transactions on May 23.<\/p><p>Spicejet is engaged in the business of scheduled air transport services for the carriage of passengers and cargo, it was among the first private companies that step into the Indian aviation sector Presently, SpiceJet has a 6.9% market share as of the FY23 March quarter.<\/p><div class=\"trade-content_5\" id=\"trade-4235342958\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company is yet to release Q4 earnings, As per the consolidated financials of the previous quarter, their operating revenues have increased by 18.52 percent from \u20b9 1,954 crores in Q2 to \u20b9 2,316 crores in Q3 FY23. Similarly, for a&nbsp; YoY comparison, the revenues declined from \u20b96,603&nbsp; crores during FY 20-21 to \u20b9 5,171 crores in FY 21-22.&nbsp;<\/p><p>The net profit of the company has significantly increased by 113 percent from a loss&nbsp; \u20b9 833 crores in Q2 to a profit of&nbsp; \u20b9 110 crores in Q3, Similarly, for&nbsp; YoY comparison, the net profit loss went from \u20b9&nbsp; 1029 crores during FY 20-21 to a loss \u20b9 1744 crores in FY 21-22.<\/p><p>As part of Spicejet&#8217;s anniversary, the company planned to start a slew of flights, including two international UDAN flights, by June&#8217;s end.<\/p><p>According to the latest data pertaining to the shareholding pattern, the promoters hold a 58.98 percent stake, and the public has a 40.57 percent stake in the company for FY 22-23.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Omkar C<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3111804308\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of&nbsp;Spicejet Ltd. surged 8% on Wednesday to Rs 26.09&nbsp;apiece from the previous close price of \u20b9 24.20.&nbsp; One of the probable reasons for the stock price to surge today is the company&#8217;s positive announcements, to restore four of the 25 grounded aircraft by June 15, as well as the announcement of a second pay [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":48867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[9447,9449,4306,948,936,9448,4307],"class_list":["post-103362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-spicejet-latest-news","tag-spicejet-q4-results-2023","tag-spicejet-share-price","tag-stock-market","tag-stock-market-news","tag-why-is-spicejet-going-up","tag-why-is-spicejet-share-price-falling"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Airlines stock rise over 8% after falling for six straight sessions; 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