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Jet shares climb over 9% ahead of FIPB meet on Etihad deal

Shares of the airline jumped 8.47 percent to close the day at Rs 469.20 on the BSE. Intra-day, the scrip surged 9.21 percent to Rs 472.40.



Mumbai: Shares of Jet Airways on Friday soared by over 9 percent ahead of the Foreign Investment Promotion Board meet to decide on the Rs 2,058 crore Jet-Etihad deal, the largest foreign investment in the Indian aviation sector.

Shares of the airline jumped 8.47 percent to close the day at Rs 469.20 on the BSE. Intra-day, the scrip surged 9.21 percent to Rs 472.40.

On the NSE, the stock climbed 9.46 percent to Rs 471.45.

In terms of volume, 9.32 lakh shares of the company changed hands on the BSE, while more than 29.46 lakh shares were traded on the NSE.

Jet Airways plans to sell 24 percent stake to Abu Dhabi-based Etihad.

Meanwhile, in an after-market development, the Foreign Investment Promotion Board deferred its decision on Jet-Etihad deal.

For the quarter ended on March 31, 2013, Jet reported a net loss of Rs 495.53 crore against Rs 298.12 crore for the same period a year ago.

In the broader market, the BSE 30-share index Sensex ended the day at 19,177.93, up 350.77 points.
PTI

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