NEW DELHI: Jet Airways shares surged 9 per cent on NSE in opening deals on Tuesday, a day after founder-chairman Naresh Goyal stepped down from its board.With this, the stock is on course to extend its winning streak to the third consecutive session.
Goyal exited after a months of tug-of-war with the lenders to the airline as well as investor Etihad Airways, which stemmed from his reluctance to give up control of the financially battered carrier.
His wife Anita Goyal stepped down along with him.
Also, Goyal will no longer be the chairman of Jet.
Jets bankers will lend an additional Rs 1,500 crore against the security of its assets.
At first glance, the market looks confident about the prospects of the company.
Sanjiv Bhasin, Executive Vice President of Markets and Corporate Affairs at IIFL Securities, told ET Now that sooner rather than later, a very wilful suitor will take a stake in Jet and it will be the beginning or end of some of the woes.
Shares of the company traded 8.26 per cent up at Rs 275.10 on NSE around 9:25 am.
The scrip was leading the pack of most traded stocks on NSE at that time.
Meanwhile, State Bank of India (SBI) SBI, the lead banker in the consortium of financiers to the struggling carrier, on Monday drove a resolution plan where the lenders would own 51 per cent of the company, which would be sold off to prospective investors by June.
There is no right of first refusal, said Rajnish Kumar, chairman, SBI.
We have a binding agreement that whatever the new investor wants from them, they will do, Kumar said, referring to the terms the promoter had to agree to prevent the airline from collapse.