MUMBAI Shares in Jet Airways(JET.NS) rose over 7 percent on a report in Mint newspaper that the airline will soon seek regulatory approval to tweak its ownership pattern to facilitate a stake sale to Etihad Airways.
The gains on Monday come on the back of a 57 percent rise in the carrier's shares in November on speculation over a deal with Etihad Airways.
Rival SpiceJet Ltd (SPJT.BO) shares were also up 6 percent.
Jet Airways and SpiceJet, battling hot competition and high operating costs, are in talks to sell minority stakes to foreign investors, said a senior Indian government official with knowledge of the discussions.
(Reporting by Abhishek Vishnoi)
Trending On Reuters
The Supreme Court told tobacco companies on Wednesday they must adhere to a new federal rule requiring much larger health warnings on cigarette packs, in a major setback for the $11 billion industry that opposes the new policy. Full Article