Jet Airways takes off
By
Research Desk
about 11 years ago
Jet Airways has literally taken off today, ahead of the crucial FIPB meet today. The stock opened at Rs.443, hit an intra day high at Rs.464 and is now at Rs.458. Market cap stands at Rs.3954 crore.
The stock is up ahead of the Foreign Investment Promotion Board (FIPB) meet today to decide on the Rs 2,058 crore Jet-Etihad deal, the largest foreign investment in the Indian aviation sector. Jet Airways plans to sell 24% stake to Abu Dhabi-based Etihad.The company has appointed Gary Kenneth Toomey as its new CEO and this change was on account of Etihad picking up 24% stake. With this change, the FIPB nod is expected to come in today, which will be followed with a CCEA approval.