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    Jet Airways shares dive 18%

    Synopsis

    At the NSE, shares plunged 18 per cent to close at Rs 66.95.

    jet
    The company's market valuation has fallen by Rs 937.13 crore in these 11 trading days.
    New Delhi: Shares of Jet Airways plunged 18 per cent Monday as stock exchanges last week decided to impose restrictions on its trading from June 28.

    The scrip tanked 16.76 per cent to close at Rs 68.30 on the BSE. During the day, it plummeted 19.56 per cent to hit a multi-year low of Rs 66.

    At the NSE, shares plunged 18 per cent to close at Rs 66.95.

    On the traded volume front, 26 lakh shares were traded on the BSE and over two crore shares on the NSE during the day.

    In 11 trading days since May 30, the scrip tumbled 54.72 per cent from Rs 150.85 on the BSE. The company's market valuation has fallen by Rs 937.13 crore in these 11 trading days.

    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.

    The cash-starved airline suspended operations in April.

    In a circular on Wednesday, the 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 per cent upfront margin and 5 per cent price band".

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



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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