{"id":118199,"date":"2024-01-30T12:03:17","date_gmt":"2024-01-30T06:33:17","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=118199"},"modified":"2024-01-30T13:00:13","modified_gmt":"2024-01-30T07:30:13","slug":"aviation-stock-jumps-over-4-after-nclt-dismisses-insolvency-petition-against-the-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/aviation-stock-jumps-over-4-after-nclt-dismisses-insolvency-petition-against-the-company\/","title":{"rendered":"Aviation stock jumps over 4% after NCLT dismisses insolvency petition against the company"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1351795119\"><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>Share price of India\u2019s most preferred low-cost airline moved up by nearly 4.68 percent to Rs. 67.30 in the morning trading session of Tuesday after an announcement on the stock exchanges.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4182065302\"><!-- 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>With a market cap of Rs. 4,492 crore, shares of SpiceJet Ltd. opened at Rs. 64.75 on January 30 from its previous close of Rs. 64.29. The company has delivered a positive return of more than 126.66 percent in the last six months compared to more than 89.4 in the last one year. So far in 2024, it has given around 7.8 percent returns.&nbsp;<\/p><p>According to the data available on the stock exchanges, the National Company Law Tribunal (NCLT) has dismissed the insolvency petition filed against SpiceJet Ltd. by aircraft lessor Wilmington Trust SP Services.&nbsp;<\/p><p>In May last year, the DGCA (Directorate General of Civil Aviation) deregistered SpiceJet\u2019s three Boeing 737-800s planes at the request of the aircraft lessor, out of which, one of the three aircraft belonged to Wilmington.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-359501909\"><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>In June 2023, Wilmington Trust SP Services moved an insolvency appeal against SpiceJet over unpaid dues. However, finally, on January 29 this year, NCLT dismissed the insolvency plea against the company.&nbsp;<\/p><p>In terms of financials, the company\u2019s revenue from operations decreased by 28.69 percent from Rs. 2,004 crore in the September 2023 quarter to Rs. 1,429 crore in the December 2023 quarter, accompanied by a fall in net profit in the September 2023 quarter to Rs. 449 crore from Rs. 198 crore in the June 2023 quarter.&nbsp;<\/p><p>As of December 2023, FIIs hold 0.33 percent of the shares, whereas DIIs hold 0.04 percent of the shares in the company, aggregating to 0.37 percent of the institutional holdings. The Promoters\u2019 holding decreased by 2.21 percent to 55.28 percent in the December 2023 quarter from 56.53 percent in the September 2023 quarter.&nbsp;<\/p><p>Incorporated in 1984, SpiceJet Ltd. is engaged in the business of providing air transport services for the carriage of passengers and cargo.&nbsp;<\/p><p>It is the largest regional player in India operating multiple daily flights under UDAN or the Regional Connectivity Scheme.&nbsp;<\/p><p><strong>Written by Shivani Singh&nbsp;<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-445132987\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\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><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><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-3439147102\"><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>Share price of India\u2019s most preferred low-cost airline moved up by nearly 4.68 percent to Rs. 67.30 in the morning trading session of Tuesday after an announcement on the stock exchanges.&nbsp; With a market cap of Rs. 4,492 crore, shares of SpiceJet Ltd. opened at Rs. 64.75 on January 30 from its previous close of [&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":[31,13525],"tags":[],"class_list":["post-118199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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