Jet shares jump over 6% ahead of FIPB meet on Etihad deal
Mumbai: Shares of Jet Airways on Thursday soared by over 6 percent ahead of tomorrow's 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.
After surging 8.64 percent to Rs 442.35 in the intra-day trade, the stock finally ended at Rs 432.55, up 6.24 percent from its previous close on the BSE.
On the NSE, the scrip ended the day at Rs 430.85, up 5.99 percent from its previous close.
Market capitalisation of the company soared by Rs 219 crore to Rs 3,734 crore.
In terms of volume, 10.07 lakh shares of the company changed hands on the BSE, while over 34 lakh shares were traded on the NSE.
Jet Airways plans to sell 24 percent stake to Abu Dhabi-based Etihad.
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 stock market, the BSE benchmark Sensex ended the day at 18,827.16, down 213.97 points.