Aviation stocks gain on stake sale buzz

November 26, 2012 10:21 pm | Updated November 17, 2021 04:23 am IST - MUMBAI:

Aviation stocks, on Monday, gained substantially with expectations that foreign airlines would soon pick up stake in Indian carriers Jet Airways and SpiceJet.

There has been speculation since last week that Jet Airways was close to signing a deal with Etihad Airways to raise $400 million, and, similarly, Air Asia was negotiating to acquire a stake in SpiceJet.


With the sell-off buzz going round in the market, Jet Airways shares gained over 13 per cent intra-day before closing with a gain of 10.81 per cent at Rs.560.40 on the Bombay Stock Exchange. On Friday, the company’s shares had gained 15 per cent.

Similarly, the stock of SpiceJet closed with a gain of 12.98 per cent at Rs.44.40.

The buying momentum in aviation counters was so high that even Kingfisher Airlines without any positive factor gained 4.96 per cent to close at Rs.14.40.

“Though few investors have evinced interest in the company post-Government of India allowing FDI in civil aviation sector to foreign airlines, it will be very premature to comment on the possibilities of any fresh equity issuance to such interested parties or confirm/deny names of any specific entity,” Spicejet said in a clarification to the BSE.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.