Rakesh Jhunjhunwala has picked up 1 per cent stake in Jet Airways for Rs 50 crore through an open market transaction.
Rakesh Jhunjhunwala’s RARE Enterprises acquired 11,95,000 shares stake in the private airline.
The shares were bought at an average price of Rs 422.76, valuing the transaction at Rs 50 crore.
As soon as the news flashed about the above transaction Jet Airways stock surged by as much as 11.28 per cent to close at Rs 445.40 apiece.
Rakesh Jhunjhunwala’s RARE Enterprises acquired 11,95,000 shares stake in the private airline.
The shares were bought at an average price of Rs 422.76, valuing the transaction at Rs 50 crore.
As soon as the news flashed about the above transaction Jet Airways stock surged by as much as 11.28 per cent to close at Rs 445.40 apiece.