Spicejet shares to be in focus on March 17: Promoter Ajay Singh offloads stake via bulk deals

Shares of the airline carrier Spicejet will be in focus in Monday's session (March 17, 2025) after the company's promoter Ajay Singh offloaded a stake in the smallcap stock worth Rs 49.8 crore.

Ajay Singh, Chairman and Managing Director pared stake in the carrier via block deals in the previous session, according to official data available on the Bombay Stock Exchange.

As per the data available, Singh sold 1.1 crore equity shares in the company -equating to 0.8 per cent stake at Rs 45.34 per share.

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After the stake sale, his shareholding in the company has now come down to 22.9 per cent as of December quarter to now 22.1 per cent.

In the previous session, the stock ended sharply lower by over 6 per cent at Rs 45.48 per share on the BSE.

The stock since its all-time high touched last year of Rs 156.9 per share has declined by as much as 71 per cent. In the last one month, the stock traded in the range of Rs 42- 50 per share.

Spicejet Q3FY25 results

In the quarter ended December 2024, the company reported net profit of Rs 20.44 crore as against net loss of Rs 298.63 crore during the previous quarter ended December 2023. Sales declined 36.30 per cent to Rs 1178.76 crore in the quarter ended December 2024 as against Rs 1850.48 crore during the previous quarter ended December 2023.

Spicejet share price performance

In the last one year, the stock has tanked 10 per cent, while its year-to-date return is at negative 18 per cent.