SpiceJet Shares Hit 11 Year Low After Heavy Block Deals Trigger 10 Percent Slide

Massive Block Deals Spark Sharp Sell Off in SpiceJet Stock​

Shares of SpiceJet tumbled 10 percent on Wednesday, touching a fresh low after heavy block deals on the BSE led to intense selling pressure in the counter.

Nearly 8.4 percent of the airline’s equity changed hands during the trading session, according to media reports. Around 128.6 million shares were executed through 17 block deals, placing SpiceJet among the most actively traded stocks of the day.

Trading volumes surged to more than 16 times the three month full day average, highlighting the scale of activity and the strong bearish sentiment surrounding the stock.

By 11 am, SpiceJet shares were locked at ₹12.88 apiece, marking their lowest level in more than 11 years.

Seven Day Losing Streak Deepens Investor Concerns​

The latest fall extended the airline’s losing streak to seven consecutive sessions. Over the past week alone, the stock has declined nearly 25 percent, making it the worst performer on the BSE SmallCap index during the day.

Technical indicators also pointed to extreme weakness. The 14 day Relative Strength Index slipped to 9.01, reflecting heavily oversold conditions.

Expansion Plans Amid Market Turbulence​

The sharp decline comes even as SpiceJet recently outlined expansion plans aimed at strengthening its operations.

Last week, the airline said it is working to scale up its fleet to around 60 aircraft through a combination of wet and dry leases. The company is also in the process of returning grounded aircraft to service.

SpiceJet stated that its domestic market share improved to 4.3 percent in December, up from 1.9 percent in September. The growth was supported by a 56 percent increase in capacity during the December quarter.

The airline has set a target to more than double its capacity to 220 crore Available Seat Kilometres by Winter 2026.

Operational Challenges Add Pressure​

Despite the expansion roadmap, operational challenges continue to weigh on the company.

According to reports, Bangladesh has barred SpiceJet from using its airspace over pending dues. As a result, certain flights from Kolkata, including services to Guwahati, are now operating on longer routes, increasing operational strain.

With heavy block deals, elevated volumes, and persistent operational headwinds, SpiceJet shares remain under significant pressure as investors reassess the airline’s near term outlook.