Jet Airways shares jump on Etihad investment hopes
- Government issues high alert, says Islamic State expanding area of terror
- Putin vows to hunt down those who bombed Russian plane in Egypt
- Mani Shankar Aiyar to Pakistan channel: Remove Modi for talks to resume
- Chittoor Mayor shot dead while trying to save husband
- Hyderabad nursery student dies after head gets stuck in school lift
Shares in Jet Airways rose as much as 6 percent on Thursday, a day after a senior Indian government source told reporters the carrier was the front-runner to win an investment from Etihad Airways.
The Gulf carrier could pay up to $330 million for a 24 percent stake in Jet, and a deal is likely in the next 10 days, the official said.
Jet Airways India Ltd was up 5.2 percent as of 0349 GMT. However, shares of Kingfisher Airlines, which had been vying with Jet to win the Etihad investment, fell 2.6 percent.
Stocks More on Jet Airways
Company INFO More on Jet Airways
Jet Airways soars nearly 7% on hopes of deal with Etihad
Mumbai, Jan 3 (PTI):Shares of Jet Airways today rose by as much as 7 per cent amid growing expectations of a possible deal between the airline and United Arab Emirates' Etihad Airways for stake sale.
After a positive opening, shares of the company further gained 6.74 per cent to Rs 618.70 on the BSE.
At NSE, the stock shot up by 6.17 per cent to Rs 615.65.
According to reports, Jet may strike a deal with Etihad, although there have been no official word on the same.
The stock has rallied over 65 per cent since November last year till date on stake sale speculation.
Market experts said the uptick in the counter was largely on the back of stake sale report regarding the airlines.
- Responses to Mumbai, Paris attacks were strikingly different. But India has learnt since
- Tipu Sultan: Revisionist overlook his bigotry, contemporaries saw nothing else
- True successors of Gandhi-Nehru
- Raja-Mandala: The final burial of non-alignment
- Modi in Britain: Beyond a reiteration of good intentions, little was achieved
- The government’s version of the uniform civil code must be debated publicly