Spice Jet Stock Gains Above 6% In Trade: Set To Receive Rs. 10bn Govt Loan

Spice Jet is a major stock to watch today, as it gained above 6% in trade on NSE. Reports came out that the small-cap airline stock is set to receive an additional loan of Rs. 10 billion (Rs. 1,000 crore) from the government. The loan will be given under the government's modified Emergency Credit Line Guarantee Scheme.

The said loan amount is expected to help the company to clear its dues. Spice Jet is also trying to raise $200 million. The stock has been watching a tough time over the past three years. During the pandemic, its business got hampered largely, and it could not recover from the losses significantly, even in 2022. However, the additional investment opportunities and funds will help the company to recover.

Spice Jet - NSE performance

The current market price of Spice Jet stood at Rs. 40.80/share on NSE, up by 6.11%, on October 6. In the last 5 days, its share price gained by 7.65%. It is a small-cap stock with a market capitalization of Rs. 2,449 crore.

The 52-week high level of this stock is Rs. 87.30, and the 52-week low level of this stock is Rs. 34.75.

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