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SpiceJet shares climb as Delhi HC rejects plea filed by KAL Airways, Kalanithi Maran

SpiceJet shares climb as Delhi HC rejects plea filed by KAL Airways, Kalanithi Maran

"We would like to inform you that the Division Bench of Delhi High Court in its order dated May 23, 2025, has dismissed the appeal filed by KAL Airways and Kalanithi Maran seeking damages of more than Rs.1300 crore and other claims," SpiceJet stated in a BSE filing.

Prashun Talukdar
Prashun Talukdar
  • Updated May 26, 2025 11:05 AM IST
SpiceJet shares climb as Delhi HC rejects plea filed by KAL Airways, Kalanithi MaranSpiceJet shares climbed 4.45 per cent to hit a day high of Rs 45.78.

Shares of SpiceJet Ltd rose 4.45 per cent to hit a high of Rs 45.78 in Monday's trade after the low-cost carrier informed bourses that a division bench of Delhi High Court dismissed the appeal filed by KAL Airways and former promoter Kalanithi Maran seeking damages of more than Rs 1,300 crore and other claims.

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"We would like to inform you that the Division Bench of Delhi High Court in its order dated May 23, 2025, has dismissed the appeal filed by KAL Airways and Kalanithi Maran seeking damages of more than Rs.1300 crore and other claims. These assertions were already previously rejected by the Arbitral Tribunal and then the Delhi High Court," the airline stated in a BSE filing.

"It is important to clarify that KAL Airways and Kalanithi Maran initially sought damages of more than Rs 1,300 crore during the arbitration proceedings. These claims were thoroughly examined and subsequently rejected by a panel of three retired Supreme Court judges. Following this, KAL Airways and Kalanithi Maran appealed to the Single-Judge Bench of the Delhi High Court, seeking the same amount in damages, which was also rejected by the court," SpiceJet added.

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Around 60.07 lakh shares changed hands at the time of writing this story. The figure was lower than the two-week average volume of 71.95 lakh shares. Turnover on the counter came at Rs 26.92 crore, commanding a market capitalisation (m-cap) of Rs 5,766.38 crore.

Technically, the scrip traded higher than the 5-day simple moving average (SMA) but lower than the 10-day, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 46.43. A level below 30 is defined as oversold while a value above 70 is considered overbought.

As per BSE, the stock has a negative price-to-equity (P/E) ratio of 42.79 against a price-to-book (P/B) value of 149.77. Earnings per share (EPS) stood at (-)1.05 with a return on equity (RoE) of (-)350.81.

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As of March 2025, promoters held a 33.46 per cent stake in the airline.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: May 26, 2025 10:59 AM IST
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