SpiceJet shares rally 20%; hit upper circuit limit

New Delhi: Shares of SpiceJet were in heavy demand on Wednesday and jumped 20 per cent to hit the upper circuit limit. The stock rallied amid reports that nearly 3 per cent equity changed hands at the BSE. On Monday, SpiceJet announced the allotment of 4.81 crore equity shares on a preferential basis to nine of its aircraft lessors to clear outstanding dues of Rs 231 crore. Shares of the company jumped 19.98 per cent to settle at Rs 39.70 -- its upper circuit limit -- on the BSE. In volume terms, 247.71 lakh shares of the company were traded on the BSE.