HDFC Mutual Fund subsidiary buys 5.45% stake in SpiceJet

HDFC Trustee Company, a subsidiary of HDFC Mutual Fund, has bought 3.4 crore shares of SpiceJet from open market, constituting 5.45% stake in airline. This comes days after CRISIL downgraded the rating for SpiceJet's short-term loans amid suspension of domestic and international flights due to coronavirus. Earlier, CAPA India said airlines could lose about $1.75 billion during April-June period.