Is it good time to buy Jet Airways share now?

Originally Answered: Is it a great time to buy Jet Airways shares? Don’t buy it until it falls into two digit price. Current levels are not appropriate for any fresh investment. Sale of jet airways to any new investors will take at least few weeks.

Why Jet Airways shares are falling?

Shares of shuttered Jet Airways nosedived nearly 5 per cent on Friday after shareholders did not approve the carrier’s financial results for the last two financial years. On the NSE also, similar trends were witnessed and the airline’s shares dropped nearly 5 per cent to close at Rs 90.70 apiece.

Why did Jet Airways stock rise?

At the end of Wednesday’s closing session, Jet Airways was up 4.98 per cent at Rs 104.40 per share. The airline’s shares have gained momentum after the National Company Law Tribunal (NCLT) approved a resolution plan submitted by Kalrock-Jalan consortium for its revival.

Who is Jalan Jet Airways?

“Jet Airways 2.0 aims at restarting domestic operations by Q1-2022, and short-haul international operations by Q3/Q4 2022,” said UAE-based entrepreneur Murari Lal Jalan, lead member of the London-based Jalan Kalrock Consortium and the proposed non-executive chairman of Jet Airways.

Who bought Jet Airways?

The new owners of Jet Airways — Dubai-based businessman Murari Lal Jalan and Kalrock Capital Management Ltd. in London — have proposed paying 3.8 billion rupees ($51 million) of the 78.1 billion rupees they owe to financial creditors, according to a bankruptcy tribunal order tabled late Wednesday.

Who is Murali Lal Jalan?

Murari Lal Jalan began his career in the paper trading business in Kolkata in the 1980s, where he worked as a trader for JK Paper and Ballarpur industries. In 2003, he expanded his business and, for that he acquired a Kolkata-based Kanoi Paper & industries, which was later renamed Agio Paper.