Jet Airways shares dive 18% after stock exchanges decide to impose restrictions on trading from 28 June

New Delhi: Shares of Jet Airways plunged 18 percent Monday as stock exchanges last week decided to impose restrictions on its trading from 28 June.

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

 Jet Airways shares dive 18% after stock exchanges decide to impose restrictions on trading from 28 June

Representative image. Reuters

At the NSE, shares plunged 18 percent 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 30 May, the scrip tumbled 54.72 percent 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 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 this year.

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 percent upfront margin and 5 percent price band".

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

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Updated Date: Jun 17, 2019 18:31:35 IST