Jet Airways (India) jumps on bargain hunting

Jet Airways (India) rose 14.44% to Rs 289.70 at 15:10 IST on BSE on bargain hunting after the stock slumped 34.31% in the preceding eleven trading sessions to Rs 253.15 on 15 June 2015, from a recent high of Rs 385.40 on 29 May 2015.

Meanwhile, the BSE Sensex was up 119.18 points, or 0.45%, to 26,705.73.

On BSE, so far 8.16 lakh shares were traded in the counter, compared with an average volume of 2.50 lakh shares in the past one quarter.

The stock hit a high of Rs 294.90 and a low of Rs 248.50 so far during the day. The stock hit a 52-week high of Rs 543.50 on 2 February 2015. The stock hit a 52-week low of Rs 203.50 on 26 September 2014.

The stock had underperformed the market over the past one month till 15 June 2015, falling 28.73% compared with 2.70% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 43.86% as against Sensex's 6.72% fall.

The small-cap company has an equity capital of Rs 113.60 crore. Face value per share is Rs 10.

Jet Airways (India) reported net loss of Rs 1728.99 crore in Q4 March 2015 as against net loss of Rs 2153.57 crore in Q4 March 2014. Net sales rose 10.21% to Rs 4626.79 crore in Q4 March 2015 in Q4 March 2014.

Jet Airways currently operates a fleet of 116 aircraft. Flights to 73 destinations span the length and breadth of India and beyond, including Abu Dhabi, Bahrain, Bangkok, Brussels, Colombo, Dammam, Dhaka, Doha, Dubai, Ho Chi Minh City, Hong Kong, Jeddah, Kathmandu, Kuwait, London (Heathrow), Muscat, New York (Newark), Paris, Riyadh, Sharjah, Singapore and Toronto.

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