SpiceJet share price rose in trade on Wednesday following reports that the airline would launch 20 new flights on its domestic routes, scheduled to commence operations from March 29.

Following the positive news, SpiceJet share price climbed 6.66% to intraday high of Rs 89.65 compared to the previous close of Rs 84.05 on BSE.

SpiceJet stock has gained after 2 days of consecutive fall. The stock has fallen 1.5% in one week, over 16% in one month and 23% year-to-date. However, it has risen 13% in last one year.  SpiceJet is trading lower than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Market capitalisation of large cap stock stands at Rs 50,068 crore.

Volume-wise, 6.5 lakh and 25 lakh shares are changing hands on BSE and NSE, respectively.

"As we add newer cities and flights to our network, our focus remains firmly on connecting the unconnected parts of the country, besides enhancing connectivity between metros and non-metros," said SpiceJet Chief Commercial Officer Shilpa Bhatia.

With the commencement of these new flights, SpiceJet will have 52 flights connecting 12 cities under the Regional Connectivity Scheme (RCS), the airline said. The new services will fly daily and will be operated by a mix of Boeing 737-800 and Bombardier Q400 aircraft, it stated.

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