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Rediff.com  » Business » Jet Airways rebounds 19% on heavy volumes

Jet Airways rebounds 19% on heavy volumes

Last updated on: June 17, 2013 16:03 IST

Jet AirwaysJet Airways (India) has moved higher by 4% at Rs 490, bouncing back 19% from intra-day’s low level, on back of heavy volumes.

The stock opened at Rs 430 and hit a low of Rs 411 on NSE, after the country’s Foreign Investment Promotion Board deferred a decision on Etihad Airways' planned 24% buy in the airline.

The regulator asked for more details on "effective control" and ownership of the Indian carrier post the stake sale.

A combined 7.82 million shares representing 36% of free float equity of the private airliner have changed hands on BSE and NSE till 1500 hours.

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