Jet Airways surges on heavy volumes
The stock has rallied nearly 25% since Sep 1, after Abu Dhabi-based Etihad Airways extend a deadline by one month.
Jet Airways (India) has surged nearly 11% to Rs 364 in morning deals on back of heavy volumes. The stock opened at Rs 330 and touched a low of Rs 326 so far on BSE.
A combined 2.83 million shares have already changed hands on the counter till 1130 hours against an average 2 million shares that were traded daily in past two weeks on NSE and BSE.
The stock has rallied nearly 25% since beginning of the current month after Abu Dhabi-based Etihad Airways has extend a deadline to buy a 24% stake in Jet Airways till the end of September as it expects the deal to be cleared by Indian authorities imminently.
Meanwhile, the company has hiked fares by a steep 25% to mitigate the impact of the sharp fall in the rupee value and a near 15% spike in oil prices of late, the PTI report suggests.
A combined 2.83 million shares have already changed hands on the counter till 1130 hours against an average 2 million shares that were traded daily in past two weeks on NSE and BSE.
The stock has rallied nearly 25% since beginning of the current month after Abu Dhabi-based Etihad Airways has extend a deadline to buy a 24% stake in Jet Airways till the end of September as it expects the deal to be cleared by Indian authorities imminently.
Meanwhile, the company has hiked fares by a steep 25% to mitigate the impact of the sharp fall in the rupee value and a near 15% spike in oil prices of late, the PTI report suggests.
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First Published: Sep 06 2013 | 11:36 AM IST