Jet Airways gains; chairman Goyal sells partial stake

Reuters Market Eye - Shares in Jet Airways (India) Ltd gain 3 percent after Tail Winds Ltd, a private investment arm owned by the carrier's promoter and chairman Naresh Goyal, sold about 7.9 percent of his 75 percent holding in Jet for around 2.10 billion rupees on Monday.

Tail Winds sold 2 million shares of Jet Airways for 310.07 rupees a share, NSE data shows, which shows Deutsche Securities Mauritius Ltd buying 1.26 million shares for 310 rupees a piece.

Dealers say the bulk sale is seen as a step in the completion of a 24 percent stake sale to Abu Dhabi's Etihad Airways. The competition regulator on November 12 approved Etihad's $325 million deal to buy a 24-percent stake in Jet Airways, the regulator said on its website.

 

(Reporting by Abhishek Vishnoi)