SpiceJet Ltd Declines 0.80% Despite Intraday Surges: 7 Key Factors Shaping the Week

23 February 2026: Fresh 52-Week Low Amid Continued Downtrend

SpiceJet Ltd’s share price opened the week under pressure, falling 2.22% to close at Rs.15.85 on 23 February 2026. The stock touched a new 52-week low of Rs.16.05 during the session, marking a continuation of its persistent downtrend. This decline came despite the Sensex gaining 0.39% to close at 36,817.86, highlighting the stock’s relative weakness.

The stock traded below all key moving averages, signalling sustained bearish momentum. Financially, SpiceJet continues to face challenges with negative book value, declining net sales at an annualised rate of 4.89% over five years, and a recent quarterly PAT loss of Rs.241.57 crore, down 96.1% from prior averages. These fundamentals underpin the stock’s technical weakness and investor caution.

24 February 2026: Intensified Selling Pressure and Intraday Lows

The downtrend accelerated on 24 February, with SpiceJet’s shares plunging 9.72% to close at Rs.14.31, hitting a fresh 52-week low of Rs.15.16 and an intraday low of Rs.14.81. This represented a significant underperformance relative to the Sensex, which declined 0.78% that day. The stock’s 8.39% intraday drop further emphasised the intense selling pressure.

Technical indicators remained negative, with the stock trading below all major moving averages. The Mojo Grade was reaffirmed as Strong Sell with a score of 3.0, reflecting deteriorated fundamentals and weak market sentiment. The stock’s one-year return of -67.54% starkly contrasts with the Sensex’s 10.92% gain, underscoring the company’s ongoing struggles.

25 February 2026: New 52-Week Low and Intraday Volatility

On 25 February, SpiceJet’s shares hit a new 52-week low of Rs.12.88, closing sharply down 9.99% at that level. The stock opened with a gap down of 3.56% and continued to weaken throughout the day. Despite this, the stock staged a strong intraday recovery, surging 7.83% from its low to hit a day high, outperforming the airline sector by 3.32% and the Sensex’s marginal 0.06% gain.

This intraday volatility highlighted mixed momentum factors amid a sustained downtrend. The stock remains below all key moving averages, and the Mojo Grade remains Strong Sell. The seven-day losing streak culminating in this session resulted in a cumulative loss of 25.2%, emphasising the ongoing challenges faced by the company.

26 February 2026: Robust Intraday Surge Signals Short-Term Relief

SpiceJet recorded a notable intraday high of Rs.15.74 on 26 February, a 7.73% surge from the previous close. The stock opened with a 3.52% gap up and maintained upward momentum throughout the session, outperforming the airline sector by 7.62% and the Sensex’s modest 0.05% gain.

This two-day rally accumulated an 8.67% gain, providing short-term relief from the prior steep declines. However, the stock remains entrenched below all major moving averages, indicating that the longer-term downtrend persists. Year-to-date, SpiceJet’s shares have declined 47.58%, contrasting with the Sensex’s 3.41% fall.

27 February 2026: Week Closes Slightly Lower Amid Mixed Market Signals

On the final trading day of the week, SpiceJet’s shares closed at Rs.16.08, up 1.13% from the previous day’s close but still down 0.80% for the week. The Sensex declined 1.16% to 36,322.56, meaning SpiceJet marginally outperformed the benchmark despite the week’s volatility.

The stock’s performance reflects a week of sharp swings, with multiple new 52-week lows offset by strong intraday rallies. Despite these short-term gains, the company’s fundamentals remain under pressure, with negative profitability, declining sales, and high promoter share pledging at 47.69% continuing to weigh on investor sentiment.

Key Takeaways from the Week

Persistent Downtrend and Weak Fundamentals: SpiceJet’s shares continued to trade below all major moving averages throughout the week, reflecting sustained bearish momentum. The company’s negative book value, declining sales, and significant quarterly losses underpin this trend.

Volatile Intraday Swings: Despite multiple new 52-week lows, the stock exhibited sharp intraday rebounds, notably on 25 and 26 February, signalling short-term trading interest amid longer-term weakness.

Relative Outperformance vs Sensex: While the stock declined 0.80% for the week, it marginally outperformed the Sensex’s 0.96% fall, indicating some resilience amid broader market pressures.

High Promoter Share Pledging: Nearly 47.69% of promoter shares are pledged, adding to downside risk through potential forced selling in adverse market conditions.

Strong Sell Rating Maintained: MarketsMOJO’s Mojo Grade remains at Strong Sell with a score of 3.0, reflecting the company’s deteriorated financial health and challenging outlook.

Conclusion

SpiceJet Ltd’s week was characterised by a continuation of its challenging downtrend, punctuated by sharp intraday rallies that provided temporary relief but failed to reverse the broader negative momentum. The stock’s multiple new 52-week lows and weak financial metrics highlight ongoing operational and market headwinds. Despite a slight outperformance relative to the Sensex, the company’s fundamentals and technical indicators suggest caution remains warranted. The strong sell rating from MarketsMOJO underscores the prevailing market sentiment and the hurdles SpiceJet faces in regaining investor confidence.

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