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Jul 31, 2012, 08.46 AM IST
Ace investor Rakesh Jhunjhunwala's Rare Enterprises has acquired 25 lakh shares of budget carrier SpiceJet for Rs 7.69 crore through an open market transaction.
According to the data available with stock exchanges, Rare Enterprises bought 25 lakh shares of SpiceJet at a price of Rs 30.77 apiece, valuing the deal at Rs 7.69 crore. However, the seller of the shares could not be ascertained.
Meanwhile, SpiceJet reported a net profit of Rs 56 crore for the June quarter 2012 after posting five straight quarterly losses. The company had a net loss of Rs 71.96 crore in April-June period of 2011.
The company's revenues rose by 51% from the year-ago period to Rs 1,407 crore. Shares of the company jumped by more than 22% to
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