 "Jet Airways extends rally post stake buy by Rare Enterprises")
Shares of Jet Airways has rallied 8% to Rs 474, extending its Friday’s 9% surge on the NSE, after Rare Enterprises bought a more than one percentage points stake in the aviation company for Rs 50.52 crore through an open market transaction.
Rare Enterprises, the company promoted by Rakesh Jhunjhunwala, acquired 1.20 million shares or 1.05% stake in the private airline at an average price of Rs 422.76 per share, according to the bulk deals data available with NSE.
However, the seller(s) of the shares could not be ascertained immediately.
At 11:25 AM, the stock was up 8% at Rs 472 on the NSE. A combined 6.19 million shares changed hands on the counter on the NSE and BSE.
In November last year, Rare Enterprises had also purchased 7.5 million shares in another aviation company SpiceJet at Rs 17.88 per share.
Shares of SpiceJet have touched a fresh 52-week high of Rs 50.90, up 9% on the BSE today.
Rare Enterprises, the company promoted by Rakesh Jhunjhunwala, acquired 1.20 million shares or 1.05% stake in the private airline at an average price of Rs 422.76 per share, according to the bulk deals data available with NSE.
However, the seller(s) of the shares could not be ascertained immediately.
At 11:25 AM, the stock was up 8% at Rs 472 on the NSE. A combined 6.19 million shares changed hands on the counter on the NSE and BSE.
In November last year, Rare Enterprises had also purchased 7.5 million shares in another aviation company SpiceJet at Rs 17.88 per share.
Shares of SpiceJet have touched a fresh 52-week high of Rs 50.90, up 9% on the BSE today.
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