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Published on 28/11/2018 1:07:10 PM | Source: Reuters

Jet Airways surges 9% on reports Naresh Goyal will sell controlling stake

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Shares of Jet Airways rallied over 9 per cent on the Bombay Stock Exchange after a TV report said that airline's promoter Naresh Goyal has agreed to sell his controlling stake in the company. "Naresh Goyal has been in talks with all three prospective investors, Tata group, Etihad and a consortium of Air France, KLM and Delta. Prospective buyers are unwilling to move ahead without taking a controlling stake in the company," CNBC-TV18 reported on Wednesday.

Naresh Goyal holds 51 per cent stake in Jet Airways while Etihad has 24 per cent stake. Buoyed by the development, shares of the company surged as much as 9.2 per cent to Rs 319.80 apiece on the Bombay Stock Exchange. In a similar trend, stocks of the firm were trading at Rs. 313.35 apiece, up 6.73 per cent, on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 35,777.61, up by 264.47 points, or 0.74 per cent, from the previous close on the BSE at 12:20 hours.