Pick of the day: Naresh Goyal’s exit from Jet Airways

Finally, the Jet Airways saga seems to be coming to a point of resolution. At least, the first few knots, the most difficult ones, have been unravelled by the resignation of Naresh Goyal from the chairmanship of Jet Airways and the stepping down of Goyal and his wife Anita from the board of directors. This development happened after Monday’s conclusion of a monster board meeting running across the night. And, with it, the biggest problem in the resolution of the impasse was overcome, and something of a crisis in the Indian airline industry was averted. The market immediately responded, with the Jet Airways stock rising over 23 percent in the two days since the decision. The saga of Jet Airways, the exit of Naresh Goyal, and what it means for Jet and Etihad going forward are our topics of discussion on this edition of Story of the Day with me Rakesh Sharma right here on Moneycontrol.