Equity Alert: Jet Airways seen up on report RIL eyeing 6-7% in co

[K.Karthik Raja]

Equity Alert: Jet Airways seen up on report RIL eyeing 6-7% in co

Equity Alert: Jet Airways seen up on report RIL eyeing 6-7% in co
MUMBAI--9:45AM--Shares of Jet Airways may open up 1-2% on a
newspaper report
Reliance Industries is in talks with the company to buy 6-7% stake,
dealers
said.
RIL is setting up special economic zones in Mumbai and Haryana,
and is
exploring buying cargo planes for shipping out goods produced in these
SEZs,
the Mint newspaper reported today.
Jet has proposed to venture into cargo airlines, the report said.
However,
a Business Line report said the company has scrapped plans to form the
said
venture.
However, dealers said gains are capped as the aviation industry
continues to
grapple with higher fuel prices in the wake of crude oil Monday
hitting a new
record high of $139.89 a barrel on NYMEX.
"The stock has strong support at 520 rupees," a dealer said.
Monday, shares of Jet Airways ended at 533.50 rupees, down 2% from
the
previous close.