- By Aditya Pratap Singh
- Fri, 30 Aug 2024 11:40 AM (IST)
- Source:JND
Spicejet Share Price: SpiceJet shares fell by more than 6% on Friday morning after the aviation watchdog DGCA decided to put the troubled firm under enhanced surveillance. The stock fell by 6.38 percent to Rs 62 on the BSE after a weak start.
The DGCA on Thursday decided to place SpiceJet under enhanced surveillance, which will require increased spot checks and night surveillance to ensure the safety of the airline's operations.
Based on reports of flight cancellations and financial pressures faced by SpiceJet, the DGCA said a special audit of the airline's engineering facilities was conducted on August 7 and 8 and some deficiencies were found during the audit.
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In light of the records and a special audit in August 2024, SpiceJet has been placed under enhanced surveillance with immediate effect. This will lead to an increase in the number of spot checks/night surveillance aimed at ensuring the safety of operations, the Directorate of Civil Aviation said on Thursday.
In 2023, the regulator also placed SpiceJet under enhanced surveillance. The no-frills carrier has battled multiple headwinds, including financial and legal woes, and is in the process of raising funds.
Stock Market Today
Equity benchmark indices Sensex and Nifty hit their new all-time highs during early trade on Friday, tracking the ongoing bullish rally of domestic stocks, firm trends in Asian markets, and fresh foreign capital inflows.
The rupee rose 7 paise to 83.82 against the US dollar in morning trade on Friday, supported by significant inflows of foreign capital and positive trends in domestic equities.