SpiceJet jumps on investment hopes

SpiceJet jumps on investment hopes

 Shares in SpiceJet Ltd gained 3.9 per cent after earlier rising as much as 8.5 per cent on continued hopes the carrier could attract foreign investments.

The airline’s stock closed at Rs 28.15, up by 3.87 per cent at the close of trading hours on the Bombay Stock Exchange on Wednesday.

Civil Aviation Minister Ajit Singh, answering a question on Etihad's proposed deal to buy a minority stake in Jet Airways India Ltd, said foreign direct investment in local airlines generally is a "welcome step," as the sector battles with stretched financials and banks unwilling to lend.

Singh added that other domestic airlines were in talks with potential investors, and named SpiceJet and unlisted GoAir. He later clarified he was referring to media reports on the companies, and hence not on direct knowledge.

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