Jet Airways rises on getting nod to merge JetLite with itself

25 Apr 2016

Jet Airways (India) is currently trading at Rs 619.25, up by 3.30 points or 0.54% from its previous closing of Rs 615.95 on the BSE.

The scrip opened at Rs. 620.00 and has touched a high and low of Rs. 623.00 and Rs. 616.15 respectively. So far 57796 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 796.00 on 13-Jan-2016 and a 52 week low of Rs. 248.50 on 16-Jun-2015.

Last one week high and low of the scrip stood at Rs. 646.50 and Rs. 613.20 respectively. The current market cap of the company is Rs. 7042.47 crore.

The promoters holding in the company stood at 51% while Institutions and Non-Institutions held 38.60% and 10.40% respectively.

Jet Airways, on April 23 received its shareholders’ approval for the merger of its low-cost subsidiary JetLite with itself. The merger is part of Jet Airways’ game plan to exit the low-cost segment.

The proposal for the merger was placed in September last year for which the company had sought directions from the court. The High Court had directed to convene the equity shareholders’ meet on April 22 to discuss the merger.

Jet Airways is India’s premier international airline operating flights to 73 destinations, including 51 in India and 22 across the world. Jet Airways’ robust domestic network in India spans the length and breadth of the country covering metro cities, state capitals and emerging destinations.

Related Jet Airways (India) Ltd. Links:

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Puchho Befikar
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