SpiceJet Shares Surge 6% After Supreme Court Ruling

New Delhi, Jul 23 (PTI) Shares of SpiceJet surged nearly 6 per cent on Wednesday after the Supreme Court dismissed a plea of KAL Airways and Kalanithi Maran seeking damages of over Rs 1,300 crore from the airline in a long-standing share transfer dispute.

The stock jumped 5.75 per cent to end at Rs 40.29 apiece on the BSE. During the day, it surged 7.19 per cent to Rs 40.84.

On the BSE, 682.78 lakh shares of the firm were traded during the day.


The Supreme Court on Wednesday dismissed a plea of KAL Airways and Kalanithi Maran seeking damages of over Rs 1,300 crore from SpiceJet in a long-standing share transfer dispute.

A bench of Justices P S Narasimha and A S Chandurkar upheld the Delhi High Court's order of May 23 dismissing their plea on grounds of delay.

KAL Airways and Kalanithi Maran had initially sought damages of over Rs 1,300 crore during the arbitration proceedings.

Maran and KAL Airways were former promoters of SpiceJet.