HDFC Trustee Company picked up a 5.4% stake in Delhi-based SpiceJet by purchasing 3.4 crore shares of the airline from the open market.
HDFC Trustee Company bought the shares on behalf of HDFC Mutual Fund.
Shares of SpiceJet lost 5% on Monday on the BSE to close at ₹35.15. in the current month, the shares of the airline major have fallen nearly 58% from ₹53 levels.
The fall in the shares of the aviation company has been in line with the overall decline in the market, especially of other aviation entities as entire fleets have been grounded on account of the nationwide lockdown.
Reports suggest that airline companies have sought a relief package from the government to meet thier expenses, including payment of staff salaries.
