Jet Airways extends gain after CoC nod for revival plan; up 47% in 8 days
Shares of Jet Airways (India) hit the upper circuit of 5 per cent at Rs 42.15 on the BSE on Monday, after the committee of creditors (CoC) of the company approved the resolution plan of consortium of Kalrock Capital–Murari Lal Jalan.
The stock was trading higher for the eight straight day and has rallied 47 per cent as compared to 2 per cent decline in the S&P BSE Sensex during this period. Till 11:19 am, a combined around 24,000 shares changed hands and there were pending buy orders for 2.28 million shares on the BSE and NSE.
The Kalrock Capital-Murari Lal Jalan consortium has proposed to re-launch Jet Airways as a full-service carrier, with an initial investment of Rs 1,000 crore. It has initiated discussions with lessors and international airlines for contracts and partnerships.
