Jet Airways shares slump 7% after Tata Sons says no concrete 'proposal' made to acquire beleaguered airline
Jet Airways' shares dropped 6.88 percent to settle at Rs 323 on BSE. During the day, it tumbled 12.57 percent to Rs 303.25.
New Delhi: Shares of Jet Airways slumped 7 percent on Monday after Tata Sons said no concrete "proposal" had been made by the group so far for acquiring the beleaguered carrier.
The stock dropped 6.88 percent to settle at Rs 323 on BSE. During the day, it tumbled 12.57 percent to Rs 303.25.
On NSE, shares of the company cracked 6.92 percent to close at Rs 322.50.
In terms of equity volume, 36.37 lakh shares of the company were traded on BSE and over 3 crore shares changed hands on NSE during the day.
Tata Sons on Friday confirmed its interest in acquiring the beleaguered Jet Airways but said no concrete "proposal" had been made by the group so far.
"Over the last few days there has been growing speculation about Tata's interest in Jet Airways. We would like to clarify that any such discussions (to acquire Jet Airways) have been preliminary and no proposal has been made," Tata Sons had said in a statement.
Meanwhile, hundreds of passengers of Jet Airways were left stranded at the Mumbai airport after the carrier cancelled 10 domestic flights from the city on Sunday, an airline source said.
Jet Airways said the flights were cancelled from the Chhatrapati Shivaji Maharaj International Airport (CSMIA) due to "operational issues". However, the airline source claimed it was due to pilots' scarcity.