Etihad rethink rumours drag Jet scrip down 7%
19 Feb 2013 7:02 AM IST
Shares of Jet Airways on Monday tanked more than seven per cent on bourses, eroding Rs 412 crore from its market capitalisation, amid reports that Etihad may revise its deal to buy a stake in the Indian carrier.
According to reports, Etihad Airways Chairman Sheikh Hamed bin Zayed al-Nahayan said the Abu Dhabi-based carrier needs to revise its deal to buy a stake in the Indian carrier and it was too soon to say when a final agreement between the two carriers would be struck.
Reacting to the news, shares of the company opened on a weak note and then lost further ground and touched intra-day low of Rs 563.30 on BSE, lower by 8.90 per cent from its last closing price.
At the end of day's trade, the scrip however, gained some lost ground and was trading at Rs 570.75, down 7.70 per cent from its previous closing price.
In just a single day trading, the company lost a Rs 412 crore from its market worth. At the end of Monday's trading, the stock's market capitalisation decreased to Rs 4,927 crore, from Rs 5,339 crore in the previous trading session (15 February).
According to reports, Etihad Airways Chairman Sheikh Hamed bin Zayed al-Nahayan said the Abu Dhabi-based carrier needs to revise its deal to buy a stake in the Indian carrier and it was too soon to say when a final agreement between the two carriers would be struck.
Reacting to the news, shares of the company opened on a weak note and then lost further ground and touched intra-day low of Rs 563.30 on BSE, lower by 8.90 per cent from its last closing price.
At the end of day's trade, the scrip however, gained some lost ground and was trading at Rs 570.75, down 7.70 per cent from its previous closing price.
In just a single day trading, the company lost a Rs 412 crore from its market worth. At the end of Monday's trading, the stock's market capitalisation decreased to Rs 4,927 crore, from Rs 5,339 crore in the previous trading session (15 February).
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