 "Jet Airways falls 6%; promoter gives non-disposal undertaking for pledged shares")
Shares of Jet Airways (India) had dipped nearly 6% to Rs 438 on BSE in early morning trade despite promoter Naresh Goyal giving an undertaking not to sell his stake in return for working capital debt.
The loan was raised a few months ago from PNB and Goyal gave a "non disposal undertaking" to the bank, the sources said.
On January 8, 2015, Mr Naresh Goyal pledges 57.93 million shares or 51% stake in the company to Punjab National Bank, Jet Airways said in an exchange filing.
The stake valued at Rs 2,561 crore as per closing price of Rs 442 on BSE as on January 8.
The stock opened at Rs 451 and has seen a combined around one million shares changing hands on the counter in first 20 minutes of trade on BSE and NSE.
The loan was raised a few months ago from PNB and Goyal gave a "non disposal undertaking" to the bank, the sources said.
On January 8, 2015, Mr Naresh Goyal pledges 57.93 million shares or 51% stake in the company to Punjab National Bank, Jet Airways said in an exchange filing.
The stake valued at Rs 2,561 crore as per closing price of Rs 442 on BSE as on January 8.
The stock opened at Rs 451 and has seen a combined around one million shares changing hands on the counter in first 20 minutes of trade on BSE and NSE.