Jet Airways shares continue to face massive selling pressure; tumble over 18%


New Delhi: Shares of Jet Airways continued the downward trend, plunging over 18% on Monday as stock exchanges, last week, decided to impose restrictions on its stock trading from 28 June.

The scrip which has been tumbling for the 11th consecutive day further plummeted 18.28% to hit a multi-year low of 67.05 on the BSE.

At NSE, shares plunged 17.94% to a multi-year low of ?67.

In 11 trading days, the scrip has tumbled over 55% from ?150.85 on 30 May.

Stock exchanges will impose restrictions on trading in Jet Airways shares from 28 June as part of preventive surveillance measures to curb excessive volatility, according to a circular issued last week.

The cash-starved airline suspended operations in April.

In a circular on Wednesday, NSE said shares of the company would be shifted from “Rolling Segment to Trade for Trade Segment, wherein the settlement in the scrip will take place on gross basis with 100% upfront margin and 5% price band”.

There are restrictions in trading of shares that are under Trade for Trade Segment.

This story has been published from a wire agency feed without modifications to the text.

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