Jet Airways gains 2% on plans to resume talks with Tata: Reports

Media reports suggest that the Naresh Goyal-led airline company is mulling to resume stake sale talks with Tata Group as it is poised to run out of cash.

Jan 11, 2019 06:01 IST India Infoline News Service

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Shares of Jet Airways were trading 2% higher on Friday after media reports suggested that the airline company is mulling to resume stake sale discussions with the Tata Group.

As per media reports, the Naresh Goyal-led airline company will re-initiate talks as it is poised to run out of cash. Apparently, in November 2018, Tata informed that it held preliminary talks with Jet Airways though no proposal was made.

Besides, media reports also said that Jet Airways has reassured its lenders that the company will present a repayment plan as early as next week.

Jet Airways (India) Ltd's share price is currently at Rs247.40, up Rs5.2, or 2.15%, from its previous close of Rs242.20 on the BSE.

The scrip opened at Rs247.20 and has touched a high and low of Rs249.65 and Rs245.55, respectively. So far, 33,40,747 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs2,751.39cr.

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