Comments
HDFC Trustee Company Ltd has bought 3.4 crore shares of SpiceJet from the open market constituting 5.45 per cent stake in the Delhi- headquartered low-cost airline.
HDFC Trustee Company is the Trustee to HDFC Mutual Fund (country’s largest mutual fund) and is a wholly-owned subsidiary of HDFC.
“This act shows that companies such as HDFC, which owns the country’s largest mutual fund, has confidence in the airline to come out of the current crisis,” a source close to the development said.
SpiceJet officials were unavailable to comment and there was no listing on the BSE.
SpiceJet stock closed at ₹35.15 on the BSE on Monday, down 5 per cent.
On February 14, SpiceJet had reported a net profit of ₹73.2 crore for the quarter ended December 31 as against a net profit of ₹55.1 crore reported during the same period previously.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.