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Jet shares turns green after three days of losses

However, the stock failed to hold altitude and pared most gains soon.

ETMarkets.com|
Updated: May 16, 2019, 03.48 PM IST
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Agencies
Jet-Airways
Shares of Jet Airways had ended 4.18 per cent down at Rs 123.70 on Wednesday, falling for three days in a row, in the wake of a series resignations by the company's top brass.
NEW DELHI: After three consecutive sessions of losses, shares of Jet Airways turned green in early trade on Thursday, surging almost 8 per cent.

However, the stock failed to hold altitude and pared most gains soon.

A PTI report on Wednesday suggested that top management of Darwin Group, which was one of the unsolicited bidders for Jet Airways, met officials of SBI Caps to discuss its proposal.

The Group has offered Rs 14,000-crore deal to the lenders for acquiring the grounded airline, PTI quoted its CEO Rahul Ganpule saying so.

Darwin Platform Group of Companies claims it has investments across various sectors including oil and gas, hospitality and realty, among others.

The consortium of SBI-led seven lenders, which owns 51 per cent in the airline, has offered to sell up to 75 per cent stake in the airline, which stopped flying around mid last month.

The ailing carrier owes over Rs 8,000 crore to the lenders.

Shares of Jet Airways had ended 4.18 per cent down at Rs 123.70 on Wednesday, falling for three days in a row, in the wake of a series resignations by the company's top brass.

CEO Vinay Dube, CFO Amit Agarwal and head of human resources Rahul Taneja quit within a span of 24 hours, raising serious doubts over the revival of the debt-laden airline.

The shares of Jet closed 2.71 per cent up at Rs 127.05 on BSE.
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