Jet Airways extends rally ahead of FIPB meet on Etihad deal
According to reports, Jet Airways has made "major" changes in their revised shareholder agreement to comply with FDI policy norms.
Jet Airways (India) has soared 6.5% to Rs 421, extending its Friday’s 18% rally, on the hope that the Foreign Investment Promotion Board (FIPB) will approve its proposed stake sale to Etihad Airways as the company has made "major" changes in their revised shareholder agreement to comply with FDI policy norms.
The FIPB will take a decision on Rs 2,058 crore Jet Airways-Etihad Airways deal on today.
A revised shareholders' agreement (SHA) was given on Thursday to FIPB, the department of industrial policy & promotion (DIPP) and to the Securities and Exchange Board of India (Sebi), the Business Standard report suggests.
The stock opened at Rs 409 and touched high of Rs 429 on NSE. A combined 1.53 million shares have changed hands on the counter on NSE and BSE till 0959 hours.
The FIPB will take a decision on Rs 2,058 crore Jet Airways-Etihad Airways deal on today.
A revised shareholders' agreement (SHA) was given on Thursday to FIPB, the department of industrial policy & promotion (DIPP) and to the Securities and Exchange Board of India (Sebi), the Business Standard report suggests.
The stock opened at Rs 409 and touched high of Rs 429 on NSE. A combined 1.53 million shares have changed hands on the counter on NSE and BSE till 0959 hours.