Shares of SpiceJet decrease by 2%

It reached an intraday high of Rs 38.95 during the session. The carrier’s stock has a 52-week low of Rs. 37.15.

As a result of numerous instances of its planes experiencing mechanical difficulties in recent weeks, SpiceJet’s stock plummeted by more than 2% on Tuesday. The airline’s stock fell 2.33 percent to finish at Rs 37.65 a share on the BSE on Tuesday after its flight to Dubai was diverted to Karachi due to a fuel indicator issue. The stock, which started the day at Rs 38.50, reached a low of Rs 37.45 during the day.

It reached an intraday high of Rs 38.95 during the session. The carrier’s stock has a 52-week low of Rs. 37.15. The 30-share benchmark Sensed fell just over 100 points to settle at 53,134.35 points on Tuesday, bringing the whole market’s performance into the red. SpiceJet explained in a statement that an indication light malfunction caused the B737 aircraft carrying passenger flight SG-11 (Delhi-Dubai) to be diverted to Karachi.

“No emergency was declared and the aircraft made a normal landing. There was no earlier report of any malfunction with the aircraft,” it said. In the past 17 days, SpiceJet aircraft have experienced at least six technical failures. The event from Tuesday and the preceding five incidents are both under investigation by the aviation authority DGCA.