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SpiceJet, World's Top-Performing Airline Stock, Says It's Undervalued

  • SpiceJet says it should be worth more based on rival's IPO
  • Indian carrier plans to halve debt over the next 12 months
A SpiceJet aircraft approaches for a landing at Chhatrapati Shivaji International Airport in Mumbai.

A SpiceJet aircraft approaches for a landing at Chhatrapati Shivaji International Airport in Mumbai.

Photographer: Dhiraj Singh/Bloomberg
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Indian budget carrier SpiceJet Ltd. has surged more than 340 percent in the past year after surviving a crisis. Chairman Ajay Singh said the best performing airline stock in the world remains undervalued.

SpiceJet’s market capitalization of about 41 billion rupees ($621 million) is too low given the $5.7 billion valuation for the operator of IndiGo, India’s biggest airline, following its listing this month, Singh said in an interview Monday.