Saturday, May 04, 2013

Rekha Jhunjhunwala buys 25 lakh shares of SpiceJet

New Delhi: Shares of SpiceJet jumped 6.5 per cent on Friday after Rekha Rakesh Jhunjhunwala, wife of Rakesh Jhunjhunwala, bought 25 lakh shares, or 0.48 per cent, stake in the company, in a deal worth Rs 9.73 crore.The shares were bought at a deal price of Rs 38.94 per piece. The stock later settled the session at Rs 40.50, up 6.47 per cent.
The government last year in September allowed 49 per cent foreign direct investment (FDI) in aviation.
SpiceJet and Kingfisher Airlines are also looking sell their stake in the Airlines. Infact, an updated shareholding data for SpiceJet as of April 18 showed the promoters of SpiceJet hiked their stake to 52.14 per cent (majority stake) from 48.59 earlier. Shareholders pattern further showed that neither Rekha nor Rakesh constituted the shareholders with more than 1 per cent of share-holding as of April 18.
03/05/13 Amit Mudgill/