Jet Airways jumps up

Jet Airways is back in the reckoning today. The stock has been gaining over the last 3 sessions and has risen over 20% in this time. Today it opened over 2% higher at Rs.150.90 and hit an intra day high at Rs.157.80, going up 7%.

Today is judgement day for Jet Airways. Today is the last day to submit binding bids for a potential takeover of the airline and the lenders are expected to meet towards the end of the day to announce a the ‘winner.’

SBI Capital Securities, which is conducting the bidding process, has shortlisted four suitors that are eligible to submit binding bids. These include Etihad Airways, National Investment and Infrastructure Fund (NIIF), and private equity players TPG Capital and Indigo Partners.

There is unconfirmed news that AdiGro Aviation, the aviation arm of the London-based AdiGroup has also put in a bid.