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Jet Airways shares halt three-day decline; zoom 13% on value buying at lower levels after plunging 40.94%

New Delhi: Shares of Jet Airways (India) Limited halted its three-day decline and surged 13 percent Tuesday on value buying at lower levels.

The scrip, after a positive opening, jumped 11.57 percent to Rs 172.50 on the BSE.

At the NSE, shares zoomed 13 percent to Rs 174.95.

 Jet Airways shares halt three-day decline; zoom 13% on value buying at lower levels after plunging 40.94%

Representational image. Reuters

Shares of Jet Airways, which has shut down operations temporarily, continued to fall for the third day in a row on Monday, tumbling over 23 percent.

The scrip dived 19.34 percent to Rs 132.20 —  its 52-week low — on the BSE.

At the NSE, shares plunged 23.17 percent to hit a one year low of Rs 126.65.

On the traded volume front, 43.47 lakh shares of the company were traded on the BSE and over four crore shares on the NSE till Monday afternoon.

In the past three days, the scrip had plummeted 40.94 percent.

Running into debt of more than Rs 8,500 crore, Jet Airways has shut down operations temporarily after lenders decided against extending emergency funds for its survival.

Cash-starved Jet Airways, which has around 23,000 employees, has delayed payment of salaries to the employees, including pilots.

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Updated Date: Apr 23, 2019 13:23:20 IST