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₹40 Share Hit Upper Circuit After Transfer Of Ownership Approval To New Group; Ownership Transfer Within 90 Days

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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

Year1st Target2nd Target
2024₹45₹74
2025₹75₹97
2026₹112₹131
2027₹135₹164
2028₹170₹200
2029₹212₹241
2030₹250₹312
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Jet Airways (India) Ltd Shareholding Pattern

Promoters Holding
Dec 202224.99%
Mar 202324.99%
June 202324.99%
Sept 202324.99%
Dec 202324.99%
FII Holding
Dec 20220.22%
Mar 20230.22%
June 20230.20%
Sept 20230.21%
Dec 20230.21%
DII Holding
Dec 202228.15%
Mar 202328.15%
June 202328.15%
Sept 202328.15%
Dec 202328.15%
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Public Holding
Dec 202246.63%
Mar 202346.64%
June 202346.66%
Sept 202346.66%
Dec 202346.65%

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
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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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