Jet Airways share price gained over 3 per cent on Monday after investor Rakesh Jhunjhunwala on Friday picked up 1.05 per cent stake in Jet Airways for Rs 50.52 crore through an open market transaction.
The share price of Jet Airways settled 3.06 per cent up at Rs 450.05. The scrip opened at Rs 461 and touched a high and low of Rs 483 and Rs 445.40, respectively, in trade. Sensex closed 0.37 per cent down at 26,559.
According to the bulk deals data available with NSE, Rakesh Jhunjhunwala’s RARE Enterprises acquired 11,95,000 shares or 1.05 per cent stake in the private airline.
The shares were bought at an average price of Rs 422.76, valuing the transaction at Rs 50.52 crore.
However, the seller(s) of the shares could not be ascertained immediately.
During the July-September quarter, Jet Airways posted a consolidated net profit of Rs 83 crore, against a net loss of Rs 42.8 crore a year ago, helped by healthy growth in passenger traffic coupled with improved aircraft utilisation by the airline.
Also, total sales grew to Rs 5,504 crore during the quarter under review as compared to Rs 5,092 crore in the same period last year.