Retail investors cut stake in SpiceJet; stock soars over 90% in 2017
Retail investors have missed the rally in SpiceJet as individual shareholders reduced their stake in the company by more than four percentage points in March quarter (Q4).
The stock has rallied 6% to Rs 110, trading close to its record high of Rs 115 touched on September 2005 on BSE in intra-day trade.
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SpiceJet has zoomed 93% thus far in the calendar year 2017 against 11% rise in the S&P BSE Sensex. In comparison, Jet Airways and InterGlobe Aviation were up 47% and 39%, respectively, during the period.
According to shareholding pattern for the quarter ended March 31, 2017, individual shareholders sold 24.26 million shares representing 4.04% stake of the company in January-March period.
Total holdings of individual shareholders declined to 24.26% in March quarter from 28.3% at the end of December quarter.
The number of individual shareholders holding share capital upto Rs 2 lakh has declined by 23,831 to 141,366 at the end of March quarter. The number of individual shareholders holding share capital in excess of Rs 2 lakh has been also reduced to 822 from 977 earlier, the shareholding pattern data shows.
Foreign portfolio investors (FPIs) and mutual funds (MFs) have increased their stake in aviation company by two percentage points each. FPI holding in SpiceJet increased to 4.42% from 2.16% and that of MFs to 3.64% from 1.05%.
National Westminster Bank Plc as trustee of the Jupiter India Fund had bought 8.75 million or 1.46% stake in SpiceJet during the March quarter against nil holding in December quarter.
Reliance Capital Trustee Company a/c Reliance Growth Fund had purchased 6.16 million shares or 1.03% in the company in previous quarter against nil holding in preceding quarter.
India's domestic air passenger traffic rose by 14.91% in the month of March to 9.04 million, over the previous month, official data showed on Thursday.
The data showed that low-cost carrier (LCC) SpiceJet had the highest passenger load factor (PLF) during the month under review at 91.4% against 93.7% in February, CLICK HERE FOR REPORT.
Stake in #Change*CategaroyShares (mn)%Shares (mn)% pointsMutual Funds21.83.6415.52.59Foreign Portfolio Investors26.54.4213.62.26Individual shareholders145.424.26-24.3-4.04NBFCs registered with RBI188.8.131.52.19Bodies Corporate,NRI & others43.37.22-4.4-0.73 # Stake at the end of March 31, 2017 quarter*Change over December 31, 2016 quarterSource: Shareholding pattern