Stock market analyst Anil Singhvi is of the view that investors can buy Spicejet Ltd stock with intra-day target of Rs 63.

According to analyst, the investors can buy the stock with stop loss of Rs 58.

The shares of the company, on June 08, closed at Rs 59.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 64.75 and a low of Rs 16.50 on BSE.

Current EPS & P/E ratio stood at 2.04 and 29.27 respectively.

According to reports, the low-cost carrier t has allotted 15,360,715 equity shares worth Rs 10 each at a premium of Rs 29.46 per equity shares to GS Investment Partners (Mauritius) I Ltd. consequent upon conversion of 15,360,715 warrants previously issued to them on preferential basis.

Moreover, Spicejet has applied once again for authorization to operate in Colombo, Sri Lanka.

Earlier, the ministry rejected its plan by saying that the traffic in this division is not enough to continue a third airline, after Air India and Jet Airways.