Meanwhile, the BSE Sensex was up 79.04 points, or 0.49% to 16,270.67.
On BSE, 22.21 lakh shares were traded in the counter as against an average daily volume of 42.63 lakh shares in the past one quarter.
The stock hit a high of Rs 59.15 and a low of Rs 55.65 so far during the day. The stock had hit a 52-week high of Rs 63.25 on 22 January 2010 and a 52-week low of Rs 12.10 on 30 March 2009.
The stock had risen 7.99% in just two trading sessions to Rs 58.15 on 19 February 2010 from a recent low of Rs 53.85 on 17 February 2010. The recent rally in the stock was on the back of fund raising plan by the company.
The mid-cap stock had outperformed the market over the past one month till 19 February 2010, gaining 11.83% as compared to the Sensex's 7.40% fall. It had also outperformed the market in the past one quarter, rising 27.94% as compared to the Sensex's decline of 3.54%.
The company's equity capital is Rs 241.79. Face value per share is Rs 10.
The current price of Rs 56.05 discounts the company's Q3 December 2009 annualized EPS of Rs 18.07, by a PE multiple of 3.10.
As per recent reports, low-cost carrier SpiceJet, which is looking to raise $50-75 million, is in talks with media baron Kalanithi Maran for a stake sale. Kalanithi Maran, the promoter of Sun Network, South India's biggest broadcaster, is considering investing close to $100 million in SpiceJet.
In early February 2010, Dubai government's private equity arm Istithmar sold off its 13.4% stake in SpiceJet.
SpiceJet is seeking to raise $75 million by selling new shares as it prepares to start international services. The carrier will become eligible to offer overseas flights in May this year as it completes five years of operations - a prerequisite for flying internationally according to Indian rules.
SpiceJet's reported a net profit of Rs 108.95 crore in Q3 December 2009 compared with a net loss of Rs 17.96 crore in Q3 December 2008. Net sales rose 35.9% to Rs 642.09 crore in Q3 December 2009 over Q3 December 2008.
SpiceJet is a domestic low-budget air carrier, which provides scheduled flights between major cities in India.
Promoters have pledged 3.09 shares representing 12.85% of the equity capital of the company. The total promoter shareholding in the company is 12.89% (as on 31 December 2009).