Jet Airways plunges as Etihad put more conditions for deal to go through
22nd February 2013 11:18 AM
Jet Airways (India),a provider of domestic and international airline services, plunged nearly 5% on second day after the Abu Dhabi-based Etihad Airways put a host of new conditions including an option to buy up to 49% stake in the firm.
According to reports, Etihad has asked for its representation on the board of the Indian airline, in sync with its shareholding. It wants operational control over the airline, as well as its fleet acquisition plans. Shares ofthe companyare trading at Rs 533.30, down Rs 26.6, or 4.75% at the Bombay Stock Exchange (BSE) on Friday at 10:43 a.m.The scrip has touched an intra-day high of Rs 554.00 and low of Rs 529. The total volume of shares traded at the BSE is 382,898.In the earlier session, the shares fell 4%, or Rs 23.3, at Rs 559.90. Currently, the stock is trading down 22.52% from its 52-week high of Rs 688.30 and above 99.14% over the 52-week low of Rs 267.80.Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 618.35 (58.45) (9.45) 1 Month 599.00 (39.10) (6.53) 3 Months 505.75 54.15 10.71 6 Months 379.15 180.75 47.67 1 Year 314.65 245.25 77.94 Note: Based on previous day closing price.
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