Jet Airways stock falls 4% on reports of preliminary probe by Ministry of Corporate Affairs

New Delhi: Shares of Jet Airways on Tuesday fell nearly 4 percent in morning trade on bourses after reports surfaced that the Ministry of Corporate Affairs has opened a preliminary inquiry into the carrier.

As per the media reports, the Mumbai Registrar of Companies (RoC) will inspect Jet's books of accounts.

Representational image. Reuters.

Representational image. Reuters.

In a regulatory filing, however, the company on Tuesday said it "has not received any communication from the Ministry of Corporate Affairs in this regard".

The shares of the company opened on a weak note at Rs 297.80, then fell to a low of Rs 289.95, down 3.73 percent over its previous closing price.

Similar movement was seen on NSE as well, where the stock opened at Rs 297.40, then fell to a low of Rs 289.65, down 3.89 percent over its last close.

Jet Airways is facing financial stress and on 9 August the company held off from announcing the unaudited financial results for the June quarter. Both BSE and NSE have sought an explanation from the company on this.

Meanwhile, a meeting of the board of directors is scheduled to be held on 27 August to consider and approve the unaudited financial results for the first quarter ended 30 June.


Updated Date: Aug 21, 2018 12:30 PM

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