Espresso shot of the day – SPICEJET LTD up by 9.61 percent

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Espresso shot of the day – SPICEJET LTD up by 9.61 percent

November 16, 2021
Espresso shot of the day – SPICEJET LTD up by 9.61 percent

SPICEJET LTD 78.10 (+9.61%) BSE – INE285B01017 | 16TH NOVEMBER 2021

SpiceJet is an Indian low-cost airline headquartered in Gurgaon, Haryana. It is the second largest airline in the country by number of domestic passengers carried, with a market share of 13.6% as of March 2019. The airline operates 630 daily flights to 64 destinations, including 54 Indian and 15 international destinations from its hubs at Delhi and Hyderabad. Established as air taxi provider “ModiLuft” in 1994, the company was acquired by Indian entrepreneur Ajay Singh in 2004 and re-christened as SpiceJet. The airline operated its first flight in May 2005. Indian media baron Kalanidhi Maran acquired a controlling stake in SpiceJet in June 2010 through Sun Group which was sold back to Ajay Singh in January 2015. The airline operates a fleet of Boeing 737 and Bombardier Dash 8 aircraft.

Recent Drivers

  • On Nov 12, 2021, the company’s sales rose 27% year-on-year to Rs. 1,342.5 crores
  • On Nov 8, 2021, the Company launched a new scheme under which passengers will be able to pay for tickets in 3, 6 or 12 installments.
  • On Oct 28, 2021, Spice Jet Merchandise informed NCLT that it will pay the remaining amount to public sector lender Canara Bank.
  • On Oct 17, 2021, the company introduced a one stop flight between Delhi and Tirupati in Andhra Pradesh.
(Sources: Livemint, Business Standard, Economic Times)


Technical Force*

  • S&P BSE 500 month till date gain up by 2.85%
  • Spurt in Volume by more than 9.04 times compare to previous vol. 3 months avg. volume: 6,97,480
  • Quantity traded: 47,83,054 | Deliverable quantity: 16,54,937 (34.60%)
  • Stock price has jumped more than 40% from one-year low level: 54.80 (Nov 17, 2020)
  • Daily RSI (14) is in Oversold territory today
  • 52-week-high: 107.95 | 52-week-low: 54.80


Key Pivot  (Yearly)

R4

R3

R2

R1

PP /FIB PP

S1

S2

S3

S4

Pivot Point

-

 222.23

171.12

133.03

81.92

43.83

-

-

    -

Fibonacci Pivot

171.12

 137.04

115.99

102.43

81.92

61.40

47.84

26.79

    -


Today’s Close

78.10

SMA

BSE

10 DAY

72.81

20 DAY

72.68

50 DAY

73.97

200 DAY

75.51


Some Key Ratios (Source: BSE)

Market Cap: 4,696.84 crores

PE: -2.97

OPM%: -7.93

ROE%: 41.07

Promoters holding%: 59.46

Prev. Close: 71.25


Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.