Jet Airways (India) has surged over 5% to Rs 617 in afternoon deals on back of heavy volumes on reports that Abu Dhabi's Etihad Airways may finalise a deal to buy a stake in the company today.
The stock opened at Rs 589 and hit a high of Rs 623 on NSE. As many as a combined 3.44 million shares have already changed hands on the counter so far against an average 2.2 million shares that were traded daily in past two weeks on both the exchanges.
“The Gulf carrier could pay up to $330 million for a 24% stake in Jet, country's second-biggest carrier, a senior government source said earlier this month,” the Reuters report suggests.
A deal may be announced as early as Friday or by the first week of February, the TV channel said, citing unnamed sources, added report.
Meanwhile, Jet Airways in regulatory filing to the stock exchanges said that the board of directors of the company will meet on February 01, 2013, to consider and approve the un-audited financial results of the company for third quarter and nine months ended December 31, 2012 (Q3).
Earlier, this month, Jet said it was in talks with Etihad, but the terms of the deal were not finalised.
“The discussions are in progress but no terms have been firmed up at present. Various structures are being explored by the legal and commercial teams and care being taken to ensure that all the Indian regulatory requirements are fully complied with,” the company said.
