Jet Airways (India) has rallied 6% to Rs 309 on reports that Abu Dhabi-based Etihad Airways has extend a deadline to buy a 24% stake in Jet till the end of September as it expects the deal to be cleared by Indian authorities imminently.
“Etihad Airways expects a $600 million investment in Jet Airways to be cleared by Indian authorities imminently, as it further extended a deadline for regulatory approval that ended on 31 August,” the Reuters report suggests.
Etihad confirmed that it agreed to extend a deadline for the deal to win regulatory approvals for a second time until end of September, added report.
The stock opened at Rs 300 and touched high of Rs 315 on BSE. A combined 650,000 shares change hands on the counter in early morning deals on BSE and NSE.
“Etihad Airways expects a $600 million investment in Jet Airways to be cleared by Indian authorities imminently, as it further extended a deadline for regulatory approval that ended on 31 August,” the Reuters report suggests.
Etihad confirmed that it agreed to extend a deadline for the deal to win regulatory approvals for a second time until end of September, added report.
The stock opened at Rs 300 and touched high of Rs 315 on BSE. A combined 650,000 shares change hands on the counter in early morning deals on BSE and NSE.
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