|Bid||357.25 x 0|
|Ask||357.60 x 0|
|Day's range||354.65 - 359.00|
|52-week range||247.65 - 364.00|
|Beta (3Y monthly)||1.51|
|PE ratio (TTM)||138.92|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
India's bankruptcy court, the National Company Law Tribunal (NCLT), on Thursday accepted an insolvency petition against Jet Airways Ltd filed by its creditors as they attempt to recover some of their dues. The insolvency process will allow lenders to sell the company as a whole or in parts, laying out a fixed timeline for a resolution around its future. Jet Airways, once India's biggest private carrier, stopped flying in April after running out of cash, leaving thousands without jobs and pushing up air fares across the country.
Indian shares settled lower on Wednesday, dented by financial and material stocks such as State Bank of India and JSW Steel Ltd, amid concerns over global recession. Asian shares traded lower as no imminent ...
Shares of Jet Airways Ltd fell as much as 11.4% on Monday after media reports said a buyout offer from Middle Eastern carrier Etihad Airways was non-binding and might not guarantee a deal for the struggling Indian carrier. Etihad, which owns an about 24% stake in Jet, submitted a bid for the airline, the unit of State Bank of India (SBI) overseeing the sale of the stricken carrier said on Friday. The Mint newspaper said https://www.livemint.com/companies/news/etihad-s-bid-for-minority-stake-in-jet-airways-is-non-binding-1557685398391.html on Monday that Etihad wanted a commitment from banks on additional loans once it infuses equity into the company.
ABU DHABI/MUMBAI/NEW DELHI (Reuters) - Middle Eastern carrier Etihad Airways has submitted a bid for a stake in India's Jet Airways, the unit of State Bank of India (SBI) overseeing the sale of the stricken airline said on Friday. Etihad, which already holds a minority stake in Jet, is interested in re-investing in the airline, subject to certain conditions, a spokesman for the Middle Eastern carrier said earlier on Friday.
A unit of State Bank of India, which is overseeing the bidding process for Jet Airways Ltd, said on Friday it had received a sealed bid from Etihad Airways, and it would submit the bid to lenders of the ...
State Bank of India (SBI) reported a smaller-than-expected quarterly profit on Friday, partly due to provisions for bad loans that the country's largest lender by assets set aside in the quarter. The Indian banking sector has been plagued by record levels of bad loans for years, and state-run lenders including SBI account for the biggest share of the pile. Net profit came in at 8.38 billion rupees ($120.04 million) for the three months ended March 31, compared with the loss of 77.18 billion rupees reported last year that was caused by a surge in bad loans, SBI said.
Economic activity in India has shown some signs of slowing down in recent months, including a decline in retail car sales and slowing growth in airline passenger traffic. Some signs of weakness have shown up in the India economy in recent months, but the country's state banks are not the culprit behind those issues, the chairman of India's largest lender said Thursday. Several recent indicators pointed to a slowdown in economic activity in India, which is Asia's third-largest economy and one of the fastest-growing in the world.
NEW DELHI (AP) — Creditors of India's beleaguered Jet Airways said they were "reasonably hopeful" that a bidding process with potential investors for a controlling stake in the airline would save the company, while airline employees rallied in New Delhi and Mumbai for a government rescue.
Beleaguered carrier Jet Airways halted all operations on Wednesday after its lenders rejected its plea for emergency funding from the airline that was once India's largest private carrier. The airline, ...
The carrier has already suspended international operations till April 18. The Indian airline's pilots have gone without salaries for months. Almost twenty percent of the value of Indian airline Jet Airways was wiped away at one stage Tuesday, following uncertainty over lifeline funding needed to keep planes flying.
Jet Airways canceled all international flights on Friday. The Indian airline has run out of cash, forcing pilots to go without salaries for months. The debt-swamped Indian airline Jet Airways has canceled all of its international flights onr Friday.
The marginal cost of fund-based lending rate, or the MCLR, now stands at 8.50 percent for the one-year tenor, down from 8.55 percent, SBI said in a statement. The move comes days after the Reserve Bank of India cut its policy interest rate by 25 basis points, in a widely expected move to boost the economy. The lender also reduced the interest rate on housing loans of up to 3 million rupees ($43,280.68) by 10 basis points to a range between 8.60 percent and 8.90 percent per annum.
SINGAPORE/NEW DELHI (Reuters) - Prospective bidders of struggling Jet Airways Ltd need to settle the airline's existing debt as part of any deal to buy a stake in the carrier, its consortium of lenders led by State Bank of India (SBI) said in a statement on Monday. Jet's lenders last month agreed to bail out the airline in a complex deal that involved the banks taking a temporary majority stake in the company - while they look for a new investor - and providing a fresh loan of $218 million. In a notice on its website, SBI Capital Markets, a unit of SBI, said that prospective bidders are required to submit expressions of interest for up to 75 percent stake in debt-laden Jet by 6 pm local time (1230 GMT) on April 10.
Lenders to India’s troubled Jet Airways Ltd may have to wait a little longer to sell a stake in the carrier, as they need more clarity from the Reserve Bank of India (RBI), the Business Standard newspaper reported on Sunday. Jet, India's oldest private carrier, is saddled with more than $1 billion in debt, compounding its financial woes and forcing it to ground most of its fleet. After Jet failed to convince potential investors, including its largest shareholder Etihad Airways, to bail it out, Indian banks decided to take a majority stake in the carrier.
Last month, Jet's lenders, led by State Bank of India (SBI) , agreed to bailout the airline in a complex deal that involved the banks taking a majority stake, while seeking out an investor to help revive the company's fortunes. The rescue plan also included a $218 million interim loan to keep the airline afloat.
Jet Airways' investors are cheering this week's government-led rescue deal, but the cash-strapped Indian airline's future looks mired in uncertainty as convincing a new investor to come on board may not be easy. The airline, which was on the brink of bankruptcy, was bailed out on Monday by state-run banks, which have temporarily taken a majority stake in the company, given it a new loan of $218 million and forced its chairman, Naresh Goyal, to step down from the board of the airline he founded 25 years ago. Its future is far from certain though, as a consortium of banks led by State Bank of India now rushes to find a new investor and sell its stake in the airline.