India, Feb. 27 -- The stock of SpiceJet started gaining momentum after Authum Investment invoked pledged shares and acquired a 6.8% stake in the airline. This deal, which was carried out without any fresh cash consideration, is an example of a recovery-driven enforcement action. Although the financials are still under pressure, improvement in passenger market share and revenue growth indicates a stabilizing trend.

With a market cap of Rs 2,550 crore, the shares of SpiceJet Ltd gained 8% in today's trading session and reached a high of Rs 17.15. When compared to its previous day's closing price of Rs 15.90.

From Lender to Shareholder: Authum's Stake Move in SpiceJet Authum Investment & Infrastructure Limited has acquired 10.37 crore equ...