Unprecedented rally in crisis-hit Jet Airways shares after 13-day downtrend; zoom over 122% to close at Rs 73.55
Earlier in the day, shares of Jet Airways had touched its all-time low of Rs 27, down 18.42 percent.
After a highly volatile trading day, the scrip skyrocketed 93.35% to close at Rs 64 on the BSE
In the last 13 trading days, shares of Jet Airways have tumbled 78%
With Thursday's gain, the scrip halted the 13-day downtrend
New Delhi: Shares of Jet Airways witnessed an unprecedented rally on the bourses on Thursday, bouncing back sharply after days of massive fall to close the day over 122 percent higher.
After a highly volatile trading day, the scrip skyrocketed 93.35 percent to close at Rs 64 on the BSE, helped by robust fag end buying. During the day, it zoomed 133.68 percent to Rs 77.35.
Earlier in the day, shares of the company had touched its all-time low of Rs 27, down 18.42 percent.
At the NSE, shares rose by 122.20 percent to close at Rs 73.55. In intra-day trade, it touched a high of Rs 82.75 and an all-time low of Rs 26.55.
With Thursday's gain, the scrip halted the 13-day downtrend. In the last 13 trading days, shares of Jet Airways have tumbled 78 percent.
A consortium of 26 bankers, led by the State Bank of India, earlier this week took the airline to the National Company Law Tribunal (NCLT) to recover their dues of over Rs 8,500 crore.
Jet Airways, started over 25 years ago, stopped flying on 17 April after it ran out of cash and unpaid lessors took away most of its 100-odd operational airplanes.
While Sensex rose by 533.74 points to end at 59,299.32, Nifty saw a rise of 159.20 points to end at 17,691.25.
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Sensex increased by 568.90 points to end at 61,305.95 while Nifty ended at 18,337.90 after gaining 176.15 points.