Low-cost carrier SpiceJet's share price went up 9.5 per cent at the Bombay Stock Exchange today in an otherwise flat market fuelled by speculation that the airline was in merger talks with another Delhi-based low-cost carrier, IndiGo.
There was also high activity at the counter as the volumes traded went up with bulk deals of at least 8.26 million shares as against the two-week average volume of 2.8 million.
SpiceJet denied any such move. Top functionaries of the company said the airline was not in talks for any possible merger with any other low-cost carrier.
According to market sources, the management teams of both the airlines met in Mumbai today.