Mumbai: Shares of Jet Airways plunged 10 per cent in opening trade on Thursday, a day after the ailing airline shuttered its operations temporarily. On the BSE, the scrip hit the lower circuit of Rs 217.70, a fall of 10 per cent compared to the previous closing level.
A similar trend was witnessed on the NSE too, where the share crashed to hit the lower price band of Rs 216.45.
With lenders deciding not to extend any emergency funds, Jet Airways on Wednesday announced a temporary suspension of operations.
Meanwhile, in a statement early on Thursday, Jet Airways’ lenders said they were reasonably hopeful of a successful bidding process for the stake sale. The announcement came early morning ahead of market opening.
The trade resumed at 09:30 hours with further selling with a drop to 192.53 from 216.45 at NSE and further dragging the stock down to an intraday low of Rs 171.78. The announcement from lenders does not seem to be giving much of a respite for the stock.