Jet gains on SpiceJet's results, Etihad hopes
Reuters Market Eye - Shares in Jet Airways(JET.NS) gain 4.3 percent, after SpiceJet swung to a quarterly profit on Monday, aided by higher fares, sending its shares up as much as 7.6 percent.
"SpiceJet's result offers a very positive read-through for Jet's 3Q results," IIFL says in a note.
Dealers say investors are also hopeful of some traction in Jet's talks with Etihad for potential stake sale.
Jet Airways, India's second-largest carrier, is in talks with Abu Dhabi's Etihad Airways to sell a stake, it said earlier this month, in what could be the first deal in the sector following the rule change.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
India's second-largest software services exporter beat estimates with a 21.6 percent rise in quarterly net profit and retained sales growth outlook for this year on surging demand for outsourcing services. Full Article | Quote