1. You Are At:
  2. English News
  3. Business News
  4. Jet Airways shares dwindle further; tank 18.5 per cent

Jet Airways shares dwindle further; tank 18.5 per cent

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.

PTI PTI
New Delhi Published on: June 19, 2019 17:22 IST
Jet Airways 
Image Source : PTI

Jet Airways 

Shares of Jet Airways further plummeted 18.5 per cent 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 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 back foot following 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. 

ALSO READ: Jet Airways crisis: Centre warns airlines against predatory ticket prices

Write a comment