Comments
Shares of Jet Airways Friday surged over 14 per cent on bourses ahead of a meeting of Tata Sons’ board, which is likely to discuss the buyout of the cash-strapped airline.
The stock cracked nearly 7 per cent to hit a low of Rs 299.75 apiece in morning trade. It recovered from its opening losses and rose to an intra-day high of Rs 356.60, which is 11.23 per cent higher from the previous close.
At the National Stock Exchange, the shares of the airline rose as much as 14.35 per cent to an intra-day high of Rs 366.95.
“Tata Sons board is meeting Friday to consider the proposal to bid for Jet Airways,” sources said.
On Thursday, shares of Jet Airways had zoomed up to 26 per cent on bourses.
A section of media had reported that Tata group was conducting due diligence of Jet Airways to buy the full-service carrier from its owner, Naresh Goyal.
Jet Airways, however, termed media reports of Tata group carrying out due diligence to acquire the airline as “speculative“.
In a response to the clarification sought by BSE on the news reports, Jet Airways said, ”The news is speculative in nature and that there is no discussion or decision in the board which would require a disclosure.”
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.