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Last Updated : Jun 13, 2019 09:51 AM IST | Source: Moneycontrol.com

Jet Airways nosedives 14% after bourses mull trading restrictions

According to a circular issued by NSE, the decision was taken as a part of preventive surveillance measures to curb excessive volatility.

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Shares of Jet Airways plunged more than 14 percent intraday on June 13 after stock exchanges decided to impose trading restrictions on the beleaguered airline.

According to a circular issued by NSE, the decision was taken as a part of preventive surveillance measures to curb excessive volatility.

The decision has been taken jointly by the exchanges and would be effective from 28 June, it said.

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The stock exchange notified that the shares of the airline will be shifted from "Rolling Segment to Trade for Trade Segment, wherein the settlement in the scrip will take place on gross basis with 100 percent upfront margin and 5 percent price band".

Jet Airways suspended all its operations in April. The lenders are now working on ways to revive the cash-starved carrier.

At 0947 hrs, Jet Airways was quoting Rs 94.80, down 14.13 percent on the BSE.

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First Published on Jun 13, 2019 09:51 am
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