SpiceJet overtakes Jet as 2nd most valuable airline

Shares of low-fare airline SpiceJet Ltd beat Jet Airways India Ltd—India’s secondlargest airline by passengers carried—for the first time to become second-most valuable aviation company in the county.

InterGlobe Aviation Ltd is India’s most valuable carrier with a market capitalization of ₹36,000 crore, stock exchange data showed.

SpiceJet Ltd’s market value was at ₹5,646.82 crore while its shares closed at ₹94.20 on BSE—a level last seen on 8 January 2008—up 0.86% from its previous close. So far this year, the stock has gained 64.69%, while the Sensex has risen 10.5%.

Shares of Jet Airways India Ltd rose 2.38% to close at ₹492.45, after which its market value stood at about ₹5,594.10 crore. So far this year, it has gained 41.77%.