Jet Airways at 15-month high, stock surges 152% in 2012

Jet Airways (India) is trading higher by 4% at Rs 429, extending its around 5% gain in past two weeks on back of heavy volumes. As many as a combined 2.22 million shares have already changed hands on the counter so far against an average sub 1.6 million shares that were traded daily in past two weeks

The stock of private airliners has gained 17% in past seven trading sessions against 1.2% fall in benchmark Sensex on reports that the company plans to more than double loan repayments to help attract investors. The stock has rallied 152% so far in current calendar year 2012 compared to about 19% rise in Sensex.

“India’s biggest listed carrier will pay $600 million (Rs 3,293 crore) of debt in the year ending March 31 and seek rupee loans with interest rates as low as 10%,” the Bloomberg report suggests quoting chief financial officer Ravishankar Gopalakrishnan.

Meanwhile, the company’s market share in October month has increased to 24.7% from 23.8% in September.