Jet Air in Deal Talks to Sell 24% Stake to Etihad

Mukesh Buch
04 Jan, 2013
New York City

Bharti Infratel is selected for FTSE global indexes from January 7. Jet Airways is in deal talks to sell 24% stake to Abu Dhabi based Etihad Airways. Airline sector in India is reeling with losses on record high fuel and low ticket prices.

[R]6:00 PM Mumbai – Bharti Infratel is selected for FTSE global indexes from January 7. Jet Airways is in deal talks to sell 24% stake to Abu Dhabi based Etihad Airways. Airline sector in India is reeling with losses on record high fuel and low ticket prices.[/R]

The Sensex Index increased 19.30 to close at 19,784.08 The CNX Nifty gained 6.65 to close at 6,016.15. For the week, the Sensex climbed 1.7%.

Gainers & Losers

Bharti Infratel Limited gained 1.4% to Rs 207.10 after the company was selected to be included in the FTSE global equity indices starting from January 7.

Gujarat Fluorochemicals increased 1% to Rs 339.45 after the refrigeration gas maker’s trading volume jumped to 8,19,733 shares.

IFCI Limited soared 11.4% to Rs 38.15 after a media report that the government is restructuring the board of the company and the stock led the gainers in the Bombay Stock Exchange’s ''A'' group.

ING Vysya Bank Limited jumped 5.9% to Rs 555.55 after the financial service provider said Reserve Bank of India approved an increase in investment limit by foreign institutional investors from 24% to 30% of paid-up capital.

Jet Airways (India) Limited added 0.6% to Rs 610.55 after the holding company is in talks with Abu Dhabi based Etihad Airways to sell as much as 24%.

Manappuram Finance, Ltd. surged 6.5% to Rs 43.20 after Reserve Bank of India to proposed increasing the loan-to-value ratio for gold to 75% from the current 60%.

Power Grid Corporation of India Limited gained 0.6% to Rs 114.90 after the power transmission company approved transmission scheme in Nagapattinam/Cuddalore area of Tamil Nadu at the cost of Rs. 182.80 crore.

Puravankara Projects Limited surged 8.4% to Rs 106.80 after the construction company’s trading volume soared to 26,84,000 shares.

Tecpro Systems, Ltd. climbed 2.4% to Rs 152.40 after the material handling company received an order worth Rs 146.60 crore from Damodar Valley Corporation.