SpiceJet shares hit by political fallout
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.
