Jet Airways (India) has plunged 11% to Rs 449, extending losses for the fourth straight day, amid investor concerns whether its stake-sale deal with Etihad Airways would materialize.
The stock of country's biggest aviation firm, currently trading at its three-month low on BSE, has tanked 24% in past one week compared to 2.5% fall in benchmark Sensex.
“The Abu Dhabi-based Etihad Airways put a host of new conditions including an option to buy up to 49% stake in the firm. Etihad has also asked for its representation on the board of the Indian airline, in sync with its shareholding,” the media report suggests.
Today, the stock opened at Rs 500 and hit a high of Rs 505 on BSE. A combined 3.26 million shares have already changed hands on the counter so far against an average sub 3 million shares that were traded daily in past two weeks.
The stock of country's biggest aviation firm, currently trading at its three-month low on BSE, has tanked 24% in past one week compared to 2.5% fall in benchmark Sensex.
“The Abu Dhabi-based Etihad Airways put a host of new conditions including an option to buy up to 49% stake in the firm. Etihad has also asked for its representation on the board of the Indian airline, in sync with its shareholding,” the media report suggests.
Today, the stock opened at Rs 500 and hit a high of Rs 505 on BSE. A combined 3.26 million shares have already changed hands on the counter so far against an average sub 3 million shares that were traded daily in past two weeks.
