Shares of Spicejet take off after acquisition talk

Mumbai: Shares of budget airline Spicejet gained nearly 19 per cent at the bourses on reports that Reliance Anil Dhirubhai Ambani group was in talks to acquire the company.
A whopping 25.14 lakh shares exchanged hands on the Bombay Stock Exchange and the scrip touched a day's high of Rs 37.45 in early trade.
The stock had closed at Rs 31.40 in the previous session. A local media report said that Reliance ADAG was keen on acquiring stake in the airline, in which Tata Group has minority interest.
06/06/08 Press Trust of India/Business Standard

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Categories: SpiceJet Jun 2008