|
The stock has
outperformed the market by surging 20% in past three trading sessions
compared to around 1% fall in benchmark Sensex.
|
jet Airways (India) has rallied almost 10% to Rs
619, extending its past two days gain, in an otherwise weak market on the back
of over two-fold surge in trading volumes.
As
many as a combined 11.96 million shares, representing about 70% of free-float
equity of the company, have already changed hands on the counter so far against
an average sub 6 million shares that were traded daily in past two weeks.
According
to market buzz, Jet Airways may raise Rs 1,600 cr from the sale of its 24%
stake to Etihad Airways.
“The
company might seek approval from the foreign investment promotion board and the
deal could conclude by the end of this month,” the Business Standard report suggests
quoting a government official.
On
Tuesday the company announced the expansion of its code sharing agreement with
Etihad for the Abu Dhabi-Paris route.
The
stock has outperformed the market by surging 20% in past three trading sessions
on the BSE compared to around 1% fall in benchmark Sensex.
No comments:
Post a Comment