₹40 Share Hit Upper Circuit After Transfer Of Ownership Approval To New Group; Ownership Transfer Within 90 Days
Jet Airways (India) Ltd (NSE – BZ: JETAIRWAYS) Share: The National Company Law Appellate Tribunal has upheld the resolution plan of the private airline Jet Airways. NCLAT has approved Jet Airways’ transfer to Jalan Kalrock Group.
The NCLAT bench directed that the Jet Airways monitoring committee complete the transfer of ownership within 90 days. The bench also ordered the Jet Airways creditors to adjust the Rs 150 crores given by the group as a performance-based bank guarantee.
Meanwhile, shares of Jet Airways rose from ₹40 to ₹43.05 on Tuesday. During this period the stock hit an upper circuit of 5 percent.
What Is The Matter?
Let us inform you that there has been a dispute for over a year regarding the transfer of management of Jet Airways between the financial institution that gave the loan and the winning bidder Jalan Kalrock Coalition.
The lending financial institutions approached the Supreme Court earlier. The court refused to intervene in the case and instead directed that the National Company Law Appellate Tribunal be the one to make a decision.
What Did NCLAT Have To Say?
The NCLAT instructed the management committee of Jalan Kalrock Alliance to implement security measures within 30 days for the immovable property offered by the SRA.
The Group Is Led By SBI
The financial institutions associated with the security were instructed to deduct the Rs 150 crore performance bank guarantee from the payment received by the successful applicant.
The Appellate Court ordered that lenders must hand over Jet Airways shares to the winning bidder within 30 days after creating security and transferring the responsibility of Jet Airways.
Payment Must Be Made Within 30 Days
NCLAT stated that all payments made to defaulters must be made following the approved resolution plan and completed within 30 days of the transfer date. Jet Airways may begin operating immediately following the selection of the winning bidder.
The approval of regulatory authorities will be required. The airline has been closed since April 2019.
Jet Airways Has Been Shut Down Since April 2019
In September of last year, the company announced that the Jalan-Kalrock Alliance had invested an additional Rs 100 crore into the airline.
The Jalan-Kalrock joint venture has now completed its financial commitment to Rs 350 crore as per the court-approved plan. The group was the winning bidder of Jet Airways 2021.
About Jet Airways (India) Ltd
Jet Airways (India)Limited is a company. It operates international airlines. It is an international airline.
The Company is divided into two segments: Domestic and International.
The Company flies to approximately 66 locations, including India and abroad. The company has 114 aircraft.
Aircraft: 777-300 ERs and Airbus A330200/300 Next Generation Boeing 737s.
Check-ins include Web check-ins, mobile check-ins, kiosk check-ins, and many other options.
The airports in the country include information about airports, lounges, buses, and coach services.
The immigration and visa system includes fast-track immigration as well as passports and visas. Secure flight passenger data and an electronic travel authorization system are also included.
The Company operates flights in Southeast Asia and South Asia as well as to Europe, North America, the Middle East, and South Asia.
Fundamental Analysis of Jet Airways (India) Ltd
| Market Cap | ₹ 492 Cr. |
| Current Price | ₹ 43.05 |
| 52-wk High | ₹ 75.3 |
| 52-wk Low | ₹ 35.6 |
| Stock P/E | — |
| Book Value | ₹ -1,541 |
| Dividend | ₹ -1,541 |
| ROCE | — |
| ROE | — |
| Face Value | ₹ 10.0 |
| P/B Value | — |
| OPM | -689 % |
| EPS | ₹ -58.3 |
| Debt | ₹ 3,561 Cr. |
| Debt to Equity | — |
Jet Airways (India) Ltd Share Price Target 2024 To 2030
| Year | 1st Target | 2nd Target |
| 2024 | ₹45 | ₹74 |
| 2025 | ₹75 | ₹97 |
| 2026 | ₹112 | ₹131 |
| 2027 | ₹135 | ₹164 |
| 2028 | ₹170 | ₹200 |
| 2029 | ₹212 | ₹241 |
| 2030 | ₹250 | ₹312 |
Jet Airways (India) Ltd Shareholding Pattern
| Promoters Holding | |
| Dec 2022 | 24.99% |
| Mar 2023 | 24.99% |
| June 2023 | 24.99% |
| Sept 2023 | 24.99% |
| Dec 2023 | 24.99% |
| FII Holding | |
| Dec 2022 | 0.22% |
| Mar 2023 | 0.22% |
| June 2023 | 0.20% |
| Sept 2023 | 0.21% |
| Dec 2023 | 0.21% |
| DII Holding | |
| Dec 2022 | 28.15% |
| Mar 2023 | 28.15% |
| June 2023 | 28.15% |
| Sept 2023 | 28.15% |
| Dec 2023 | 28.15% |
| Public Holding | |
| Dec 2022 | 46.63% |
| Mar 2023 | 46.64% |
| June 2023 | 46.66% |
| Sept 2023 | 46.66% |
| Dec 2023 | 46.65% |
Jet Airways (India) Ltd Share: Last 5 Years’ Financial Condition
To better understand how the market is performing, let’s look at the outlook of this share in the previous years.
However, investors should be aware of the risks and the market conditions before making any investment decision.
Last 5 Years’ Sales:
| 2019 | ₹ 23,057 Cr |
| 2020 | ₹ 333 Cr |
| 2021 | ₹ 39 Cr |
| 2022 | ₹ 136 Cr |
| 2023 | ₹ 75 Cr |
Last 5 Years’ Net Profit:
| 2019 | ₹ -5,536 Cr |
| 2020 | ₹ -2,841 Cr |
| 2021 | ₹ -152 Cr |
| 2022 | ₹ -773 Cr |
| 2023 | ₹ -663 Cr |
Last 5 Years’ Debt-To-Equity Ratio:
| 2019 | -0.73 |
| 2020 | -0.23 |
| 2021 | -0.23 |
| 2022 | -0.21 |
| 2023 | -0.2 |
Last 10 Years’ Profit Growth:
| 10 Years: | -1% |
| 5 Years: | -7% |
| 3 Years: | 15% |
| Current Year: | 16% |
Last 10 years’ Return on Equity (ROE):
| 10 Years: | — |
| 5 Years: | — |
| 3 Years: | — |
| Last Year: | — |
Sales Growth Over 10 Years:
| 10 Years: | -44% |
| 5 Years: | -71% |
| 3 Years: | -47% |
| Current Year: | 0% |
Conclusion
This article is a complete guide about Jet Airways (India) Ltd Share. This information and forecasts are based on our research, company fundamentals, history, experiences, and technical analyses.
Also, We have discussed the share’s prospects and growth potential in detail.
This information will help you in your further investment.
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