Naresh Goyal buys over 29% stake in Jet for Rs 1,434 cr

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Mumbai: Jet Airways chairman Naresh Goyal today picked up over 29 percent stake in the private carrier from another promoter entity for about Rs 1,434 crore. The shares were purchased from Tail Winds Ltd, a company incorporated in the Isle of Mann and wholly owned by Goyal. According to information available with the stock exchanges, Goyal purchased 2. 51 crore shares, amounting to 29. 13 per cent stake, of Jet Airways in his personal capacity.

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JETAIRWAYS 584.50 2.75 (0.47%)

Jaya against more divestment in Neyveli Lignite, writes to PM

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Hence, I strongly urge you to explore (other) alternatives to the proposed investment,” she said. Noting that NLC employees have “justifiable apprehension” on disinvestment even a “portion” of Government equity, she said, “Instead of reassuring the large workforce, the concerned Ministry and the company management seem to be trying to justify the disinvestment based on specious and artificial regulatory requirements. ” Jayalalithaa said her government has been strongly opposed to privatising any portion of NLC and was of the view that the public sector character of NLC should be maintained without any dilution. Listing the possibilities available for government in the matter, she said it was incorrect to state that there was no option to disinvesting a further five percent stake. “NLC can be delisted by buying back the 6. 44 percent currently in public hands through the buy back mechanism available under SEBI regulations.

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NEYVELILIG 65.10 -2.60 (-3.84%)

Bhel Q4 profit drops 4% at Rs 3,327 cr

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New Delhi: State-owned power equipment major Bhel (Bharat Heavy Electricals Ltd) today reported 4. 2 percent drop in net profit at Rs 3,327. 54 crore for the quarter ended 31 March. The company had reported net profit of Rs 3,379. 81 crore in the January-March quarter of the previous financial year, Bhel said in a regulatory filing to the stock exchange. ReutersBhel reported Q4 net income of Rs 18,850. 16 crore, down 2. 1 percent from Rs 19,264. 40 crore in the same period last fiscal (2011-12). The company posted 8 percent decline in the annual net profit at Rs 6,485 crore. Bhel had reported net profit of Rs 7,040 crore in the 2011-12 fiscal.

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BHEL 196.05 -7.70 (-3.78%)