Jet Airways share price surged as much as 8.47 per cent on Monday after investor Rakesh Jhunjhunwala on Friday picked up 1.05 per cent stake in Jet Airways for Rs 50.52 crore through an open market transaction. (Photo: Reuters)
Jet Airways share price surged as much as 8.47 per cent on Monday after investor Rakesh Jhunjhunwala on Friday picked up 1.05 per cent stake in Jet Airways for Rs 50.52 crore through an open market transaction.
At 11.16 am, shares of Jet Airways were trading 8.01 per cent up at Rs 471.70. The scrip opened at Rs 461 and had touched a high and low of Rs 473.70 and 455.40, respectively, in trade so far. The BSE Sensex was down 115.97 points at 26,540.86 during the same time.
According to the bulk deals data available with NSE, Rakesh Jhunjhunwala’s RARE Enterprises acquired 11,95,000 shares or 1.05 per cent stake in the private airline.
The shares were bought at an average price of Rs 422.76, valuing the transaction at Rs 50.52 crore.
However, the seller(s) of the shares could not be ascertained immediately.
During the July-September quarter, Jet Airways posted a consolidated net profit of Rs 83 crore, against a net loss of Rs 42.8 crore a year ago, helped by healthy growth in passenger traffic coupled with improved aircraft utilisation by the airline.
Also, total sales grew to Rs 5,504 crore during the quarter under review as compared to Rs 5,092 crore in the same period last year.
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