Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Jet Airways shares fall 11% on bourses

Feb 26 2013, 13:42 IST
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SummaryJet shares opened weaker and lost further ground to touch a low of Rs 448.65 on the BSE.

Shares of Jet Airways today tanked more than 11 per cent amid investor concerns whether its stake sale deal with Abu Dhabi-based carrier Etihad would materialise.

According to media reports, fresh hurdles have come up in the Jet-Etihad deal. There were also reports that the UAE-based carrier was seeking to revise a proposed deal with the Indian carrier.

Jet shares opened weaker and lost further ground to touch a low of Rs 448.65 on the BSE, down 11.07 per cent from its last closing price.

On the National Stock Exchange as well, the stock opened at Rs 505.70 and touched intra-day low of Rs 448.40, down 11.25 per cent from its previous closing price.

Etihad has said the deal is being revised and might take some time to conclude. It is reported to be buying 24 per cent equity in Jet Airways for about Rs 1,800 crore.

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