Etihad Airways expected to acquire upto24% stake in Jet Airways, according to reports.
Reports said that the two airline may strike an agreement after months of negotiations.
Jet Airways promoter Naresh Goyal and Etihad Airways CEO James Hogan met Civil Aviation Minister Ajit Singh and discussed their plans for an alliance. Hogan also met Commerce Minister Anand Sharma.
The deal may be valued the Indian carrier at $1.2 bn, or 63.80bn, which is 19% higher than the current market cap of 5,371 crore.
India Infoline Research Team / 08:59, Sep 02, 2014
The indices are expect to open on a positive note. Some profit booking could always set in later in the day.