Jet Airways slips 3% on buzz Etihad may not make open offer

Tags: News
Shares of Jet Airways today fell by nearly 3 per cent amid reports that Etihad Airways may not have to make an open offer for the airline as Sebi is likely to rule in favour of the Abu Dhabi-based company.

Jet Airways' scrip ended the day 2.75 per cent lower at Rs 273.80 on the BSE. During the day, the stock lost 4.4 per cent to Rs 269.15.

At the NSE, the scrip fell by 2.72 per cent to close the day at Rs 274.

On the volumes front, 4.82 lakh shares of the company changed hands at the BSE, while more than 14 lakh shares were traded at the NSE.

According to a media report, the Securities and Exchange Board of India (Sebi) is likely to rule in favour of Etihad Airways, clearing it of any takeover code violation while buying a 24 per cent stake in Jet Airways.

When contacted regulatory officials said that no final decision has been taken in this matter.

Meanwhile, the broader market was also weak with the BSE benchmark Sensex ending at 22,631.61, down 56.46 points.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sebi’s proposal to bring clarity to merger moves is a welcome step

    Market regulator Sebi is reportedly planning changes in rules governing merger and acquisition of companies in India.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

Prosperity mantra across the ages

The economic prosperity of a nation rests upon its ability ...

Kuruvilla Pandikattu SJ

Can we pop a pill for compassion?

Can altering brain chemistry make us more sensitive to inequality? ...

Gautam Gupta

Fashion forward for e-commerce industry?

Looks like the e-commerce industry is taking a leaf out ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture