Business Companies 19 Jun 2019 Jet Airways shares d ...

Jet Airways shares dwindle further; tank 18.5 per cent

PTI
Published Jun 19, 2019, 6:47 pm IST
Updated Jun 19, 2019, 6:47 pm IST
The scrip tanked 18.17 per cent to close at Rs 33.10 on the BSE.
During the day, Jet Airways shares dropped 28.18 per cent to hit an all-time low of Rs 29.05.
 During the day, Jet Airways shares dropped 28.18 per cent to hit an all-time low of Rs 29.05.

New Delhi: Shares of Jet Airways further plummeted 18.5 per cent on Wednesday after the consortium of bankers took the grounded airline to the NCLT.

The scrip tanked 18.17 per cent to close at Rs 33.10 on the BSE. During the day, it dropped 28.18 per cent to hit an all-time low of Rs 29.05.

 

On the NSE, shares of the airline plunged 18.51 per cent to close at Rs 33.

This is the 13th consecutive trading day fall for Jet Airways, which has tumbled 78 per cent during this period.

The consortium of 26 bankers led by the State Bank of India on Tuesday took the airline to the National Company Law Tribunal (NCLT) to recover their dues of over Rs 8,500 crore.

Jet Airways, started over 25 years ago, stopped flying on April 17 after it ran out of cash and the unpaid lessors took away most of its 100-odd operational airplanes.

The scrip has also been on the back foot following an announcement that stock exchanges will impose restrictions on trading in Jet Airways' shares from June 28 as part of preventive surveillance measures to curb excessive volatility, according to a circular issued last week.

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Location: India, Delhi, New Delhi




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