Jet Airways (India) is trading higher by 3.3% at Rs 321, in early morning deals on BSE, on reports that the board of directors of the company will meet tomorrow to finalise the preferential allotment of 24% equity to Etihad Airways.
The stock opened at Rs 315 and touched a high of Rs 324 on the BSE. A combined 1.04 million shares have changed hands on the counter so far on BSE and NSE.
“The preferential allotment might take place the same day. The board will also finalise the appointment of Etihad’s Chief Executive Officer James Hogan and Etihad’s chief financial officer James Rigney on its board,” the Business Standard report suggests.
Meanwhile, on Monday, Jet Airways’ promoter Naresh Goyal sold the 7.89% stake he was holding through Tail Winds, a promoter entity of Jet Airways, worth Rs 211 crore. Tail Winds had sold 6.81 million equity shares at an average price of Rs 310.15 per share.
The stock opened at Rs 315 and touched a high of Rs 324 on the BSE. A combined 1.04 million shares have changed hands on the counter so far on BSE and NSE.
“The preferential allotment might take place the same day. The board will also finalise the appointment of Etihad’s Chief Executive Officer James Hogan and Etihad’s chief financial officer James Rigney on its board,” the Business Standard report suggests.
Meanwhile, on Monday, Jet Airways’ promoter Naresh Goyal sold the 7.89% stake he was holding through Tail Winds, a promoter entity of Jet Airways, worth Rs 211 crore. Tail Winds had sold 6.81 million equity shares at an average price of Rs 310.15 per share.
