New Delhi: Chandigarh-based Varun Checker, 28, a former Larsen and Toubro Ltd engineer, bought SpiceJet Ltd shares at Rs15 apiece when the airline was close to shutting down because of a cash crunch in late 2014.
Today, SpiceJet’s shares are hovering around Rs125 each. In June, Bloomberg said it was the world’s best aviation stock this year with a 124% gain.
“I sold too early,” said Checker, “but still I made three-four times—Rs50,000 became Rs1.5 lakh. This was the best return I got on any stock in that time frame.”
SpiceJet is valued at Rs7,400 crore, up from the Rs650 crore it was valued at during its darkest hour in 2014. Rival Jet Airways Ltd, with a fleet double that of SpiceJet, is valued at Rs6,200 crore.
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