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.


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