HomeNewsBusinessCompaniesPromoter stake hike to bode well for SpiceJet: ICICI Direct
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Promoter stake hike to bode well for SpiceJet: ICICI Direct

Rasesh Shah, aviation analyst at ICICI Direct joins CNBC-TV18 to talk of the cause-effect of the stake hike by the promoter. He says that SpiceJet was looking for funds to finance their expansion plans and considering the high interest rate scenario, a promoter stake hike was the best solution.

September 13, 2011 / 22:50 IST
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The stock of SpiceJet shot up 7% in the morning following Kalanithi Maran, promoter of media group, Sun TV Network Ltd, increasing his stake in the low-cost airline to 43% by October. Rasesh Shah, aviation analyst at ICICI Direct joins CNBC-TV18 to talk of the cause-effect of the stake hike by the promoter.


He says that SpiceJet was looking for funds to finance their expansion plans in tier-one and tier-two cities.
TAGS: #bombardier aircrafts #Business #expansion plans #Jet Airways #Kalanithi Maran #Low-cost airline #promoter stake #SpiceJet #Sun TV
first published: Sep 13, 2011 12:27 pm

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