Shares of Jet Airways on Monday dropped
more than 11 per cent amid investor concerns whether its stake sale deal with Abu Dhabi-based carrier Etihad would materialise.
According to media reports, fresh hurdles have come up in the Jet-Etihad deal. There were also reports that the UAE-based carrier was seeking to revise a proposed deal with the Indian carrier.
Jet shares opened weaker and
lost further ground to touch a low of Rs 448.65 on the Bombay Stock Exchange, down 11.07 per cent from its last closing price.
On the National Stock Exchange as well, the stock opened at Rs 505.70 and touched intra-day low of Rs 448.40, down 11.25 per cent from its previous closing price.
Etihad has said the deal is being revised and might take some time to conclude. It is reported to be buying 24 per cent equity in Jet Airways for about Rs 1,800 crore.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Special 
