Jet Airways' shares nosedive

April 16, 2019 17:13

Shares of Jet Airways plunged nearly 8 per cent Tuesday amid reports that the company is likely to temporarily shut down its operations. The scrip tumbled 7.62 per cent to close at Rs 241.85 on the BSE.

During the day, it plummeted 18.56 per cent to Rs 213.20. At the NSE, shares plunged 7.71 per cent to close at Rs 241.50. On the traded volume front, 48.67 lakh shares of the company were traded on the BSE and over five crore shares on the NSE during the day.

The company's market valuation also fell by Rs 225.65 crore to Rs 2,747.35 crore on the BSE. The BSE has sought clarification from Jet Airways (India) Ltd with reference to news that it is likely to temporarily shut down its operations.

Jet Airways is grappling with acute financial crunch and is operating less than 10 planes besides temporarily suspending international operations. -- PTI

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