03-Jun-2011 12:38 PM
SpiceJet shares hit by political fallout
Analysis
Shares in SpiceJet slumped 16.1%, the largest single-day decline in almost five years, as fallout from an investigation into India Union Textile Minister Dayanidhi Maran hit companies owned by the Maran brothers. Dayanidhi Maran is reportedly a subject of a Public Interest Litigation (PIL), alleging he benefitted from the granting of licences to telecommunications provider Aircel and from Maxis Group (which owns Aircel) taking a 20% stake in Sun Direct.
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