Jet Airways pares early gains after FIPB approval for Etihad deal
The stock has outperformed the market by surging 32% in past three trading sessions as compared to 1% fall in S&P BSE Sensex.
Jet Airways (India) is trading higher by 2% at Rs 421, falling over 5% from intra-day high, after the Foreign Investment Promotion Board (FIPB) gave its conditional approval to the company’s proposal to sell a 24% stake to Abu Dhabi-based Etihad Airways for Rs 2,058 crore.
The stock opened at Rs 438 and hit a high of Rs 445 in early morning deals on BSE. A combined around one million shares have changed hands on the counter so far on BSE and NSE.
Meanwhile, shares of Jet Airways have outperformed the market by surging 32% in past three trading sessions as compared to 1% fall in the benchmark S&P BSE Sensex.
The stock opened at Rs 438 and hit a high of Rs 445 in early morning deals on BSE. A combined around one million shares have changed hands on the counter so far on BSE and NSE.
Meanwhile, shares of Jet Airways have outperformed the market by surging 32% in past three trading sessions as compared to 1% fall in the benchmark S&P BSE Sensex.