Fourth largest airline in the country, SpiceJet is planning to enter into the competitive retail space in the country. As per the reports published by some of the leading media houses, the company will open a chain of physical stores and online e-tail gateways, selling a wide range of consumer goods from fashion products to gadgets and electronic items.
Each product category is placed under the newly created ‘Spice’ brand. The retail segment of the company will be created under a separate subsidiary. The formal announcement by the company is expected within a month.
India’s retail market is forecasted to nearly double from USD 600 billion in 2015 to USD 1 trillion by 2020. SpiceJet Ltd is currently trading at Rs 81.25, up by Rs 2.1 or 2.65% from its previous closing of Rs 79.15 on the BSE.
The scrip opened at Rs 82 and has touched a high and low of Rs 83.15 and Rs 80 respectively. So far 7286750(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4744.65 crore.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 85.6 on 19-May-2016 and a 52 week low of Rs 54.5 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 82.7 and Rs 73.2 respectively. The promoters holding in the company stood at 60.32 % while Institutions and Non-Institutions held 3.4 % and 36.28 % respectively. The stock is currently trading above its 50 DMA.