InvestorQ : What is the latest status on the Jet Airways sell-off? I bought some shares when it was falling at around Rs.50/share. What do you recommend?
Mary Joseph made post

What is the latest status on the Jet Airways sell-off? I bought some shares when it was falling at around Rs.50/share. What do you recommend?

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sara Kunju answered.
2 years ago
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Couple of points before we get into the details of Jet Airways! You must be aware that the stock has corrected nearly 90% in the last one year and had recently touched a low of around Rs.26. When you buy such stocks, try to keep a stop loss at which point you just exit the position because buying stocks like Jet is purely speculative. You must be aware that the latest quarter results are yet to be finalized and that has delayed the NCLT process.

Also, SBI is unable to find buyers for its stake in Jet Airways. Firstly, Etihad is not interested in increasing its stake beyond the current 24%. Secondly, Hinduja Group had shown some interest in taking a stake in Jet Airways but they were asking for steep haircuts for banks which SBI was not willing to take. Thirdly, the Vedanta family office, Volcan Investments had shown some interest in the stock but they too have backed out. At this point it does not look like there are any interested suitors for the stock. This is a company with negative net worth. The stock has recently bounced to Rs.41 levels, so you should take a small loss on the stock and just exit it.

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2 years ago
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You should not catch a falling knife. Financial situation and management not good, banks are not get buyer, I think when Jet Airways will get good buyer then you should buy the stock

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