SpiceJet hits record high; stock zooms over 100% in 2017

SpiceJet hit a record high of Rs 116.90, up 4% on BSE in intra-day trade, surpassing its previous high of Rs 115 touched on September 5, 2005. The stock has zoomed 104% thus far in the calendar year 2017 from Rs 57.20 on December 30, 2016, against 12.5% rise in the S&P BSE Sensex during the same period. By comparison, Jet Airways and InterGlobe Aviation added 54% and 38%, respectively, during the same period. According to March 2017 shareholding pattern, foreign portfolio investors (FPIs) and mutual funds (MFs) have increased their stake in SpiceJet by two percentage points each. FPI holding in company increased to 4.42% from 2.16% and that of MFs to 3.64% from 1.05%.  Commodity Trading Tips

Since February 13, 2017, post October-December (Q3FY17) results, the stock soared 80% from Rs 64 against 6% rise in the benchmark index. SpiceJet reported profit of Rs 181 crore in Q3FY17, was the eighth consecutive profitable quarter for the budget airline since its turnaround after the December 2014 crisis and management change. Indian aviation companies with around 65% of their costs linked to USD (Aviation Turbine Fuel and aircraft leasing/maintenance costs) could be the biggest beneficiaries of rupee appreciation.  Nifty Trading Tips