Jet Airways gains, chairman Naresh Goyal sells partial stake

Nov 19 2013, 10:26 IST
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Naresh Goyal (AP) Naresh Goyal (AP)
SummaryDealers say bulk sale is seen as a step in completion of a 24 per cent stake sale to Etihad Airways.

Shares in Jet Airways (India) Ltd gain 3 per cent after Tail Winds Ltd, a private investment arm owned by the carrier's promoter and chairman Naresh Goyal, sold about 7.9 per cent of his 75 percent holding in Jet for around 2.10 billion rupees ($33.6 million) on Monday.

Tail Winds sold 2 million shares of Jet Airways for 310.07 rupees a share, NSE data shows, which shows Deutsche Securities Mauritius Ltd buying 1.26 million shares for 310 rupees a piece.

Dealers say the bulk sale is seen as a step in the completion of a 24 percent stake sale to Abu Dhabi's Etihad Airways.

India's competition regulator on Nov. 12 approved Etihad's $325 million deal to buy a 24-percent stake in Jet Airways, the regulator said on its website.

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