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30.10 - 12:27
Is Rakesh Gangwal buying stake in SpiceJet? Here's what we know so far
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SpiceJet and Gangwal, investors and market observers are left confused with the emergence of conflicting news reports. Here's what we know so far: - Gangwal was said to be in talks with SpiceJet for picking up a “sizeable stake" in the financially-stressed carrier, ET Now reported on October 13, citing sources who they claimed to be privy to the development.
- The two sides were in advanced talks for the stake sale, the report added, suggesting that the negotiations were underway. - The report boosted SpiceJet's stock, with the shares jumping by 20 percent during the day's trading session, and closed at ₹43.60 on the BSE.
This was 19.39 percent higher than the previous day's close. "Exciting news! Mint is now on WhatsApp Channels
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