Equity Alert: Spicejet up; Paramount may also be in race to buy shr
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K.Karthik Raja
Jun 10, 2008, 2:58:19 AM6/10/08
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Equity Alert: Spicejet up; Paramount may also be in race to buy shr
Shares of SpiceJet rose almost 5% to 34.30 rupees on BSE on
a newspaper report that Madurai-based business class airline Paramount
Airways has joined the race to acquire controlling stake in the
company.
Jet Airways, and Anil Dhirubhai Ambani Group are reportedly eyeing
a controlling stake in SpiceJet.
SpiceJet, which is looking to raise 4 bln rupees for its fleet
expansion, could look at various options including offloading a
stake,
We expect the stock to touch 50-55 rupees in the next one month on
speculation the company will be able to demand better valuation for
the stake sale as there are a number of large players interested.
So far today, 1.1 mln shares of the company have been traded on
BSE.
Shares of SpiceJet rose almost 5% to 34.30 rupees on BSE on
a newspaper report that Madurai-based business class airline Paramount
Airways has joined the race to acquire controlling stake in the
company.
Jet Airways, and Anil Dhirubhai Ambani Group are reportedly eyeing
a controlling stake in SpiceJet.
SpiceJet, which is looking to raise 4 bln rupees for its fleet
expansion, could look at various options including offloading a
stake,
We expect the stock to touch 50-55 rupees in the next one month on
speculation the company will be able to demand better valuation for
the stake sale as there are a number of large players interested.
So far today, 1.1 mln shares of the company have been traded on
BSE.
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