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Jet Airways bucks weak market trend

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(India) jumped 16.13% to Rs 294.40 on BSE on media report that the company is close to finalising a resolution plan.

Meanwhile, the fell 156.28 points, or 0.43% to 35,853.56.

On the BSE, 35.21 lakh shares were traded in the counter compared with average daily volumes of 8.47 lakh shares in the past two weeks. The stock had hit a high of Rs 297 and a low of Rs 248.50 in the intraday.

Media reported on Monday that was likely to finalise a resolution plan with its lenders this week, and that founder and would trim his 51% stake to 20-25% and agree to voting rights on his stake being capped at 10%, in a bid to save the

The report also said Etihad may infuse capital into and raise its stake from the 24% it currently owns.

reported net loss of Rs 1297.46 crore in Q2 September 2018 as against net profit of Rs 49.63 crore in Q2 September 2017. Net sales rose 9.50% to Rs 6161.15 crore in Q2 September 2018 over Q2 September 2017.

Jet Airways is India's premier international airline, currently operates flights to 66 destinations, including and overseas.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 14 2019. 15:45 IST