Jet stocks surge 7% over reports of Goyal quitting

Mumbai, March 1 (IANS) The scrip price of Jet Airways surged up to 7 per cent on Friday following reports that the companys chairman Naresh Goyal has agreed to step down from his post.On the intra-day basis, the company traded at Rs 236.60 a piece, up Rs 13.80 or 6.19 per cent at around 2 p.m., after the surge."Stocks are gaining as Goyal's stepping down will open up the opportunity for new investors which the company is in dire need of," Saurabh Jain, AVP, SMC Global, told IANS."Earlier some reports said that Goyal will pump in over Rs 500 crore but even that would not fix things for Jet Airways."Jain added that markets were awaiting fresh developments. Earlier this week, Jet Airways said that 13 aircraft had been grounded due to non-payment of amounts under lease agreements, following which its stocks declined steeply.
--IANS
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