The price of SpiceJet fell 7 per cent to hit its one-year low on Wednesday, after several instances of its planes suffering technical glitches in recent weeks.
The scrip dropped 7 per cent to hit its 52 week low of 35 on the BSE.
SpiceJet shares opened at Rs 37.10 apiece after falling 2.33 per cent to close at Rs 37.65 on Tuesday, a day after a Dubai-bound plane was diverted to Karachi due to a malfunction of the fuel indicator.
The airline's shares were trading 2.66 per cent down on Wednesday, at Rs 36.65 apiece.
The broader market was in the positive territory and the benchmark Sensex rose nearly 400 points to 53,533. There were 84 points.
SpiceJet's Delhi-Dubai flight suffered a mid-air malfunction in its fuel indicator on Tuesday and was diverted to Karachi and cracks on the windshield of another plane of the budget carrier at a height of 23,000 feet, forcing a priority landing in Mumbai in a double whammy for the airline.
The total number of technical malfunction incidents involving SpiceJet aircraft has gone up to seven in the last fortnight, due to the two episodes on a single day.
The aviation regulators are investigating all the incidents, according to officials of the Directorate General of Civil Aviation DGCA.