Shares of Jet Airways on Thursday cracked nearly 18 per cent after stock exchanges decided to impose restrictions on its stock trading from June 28.
The scrip plunged 16.71 per cent to close at Rs 91.95 on the BSE. During the day, it dropped 23.18 per cent to Rs 84.80 — its multi-year low.
On the NSE, shares tumbled 17.72 per cent to close at Rs 90.75.
In terms of traded volume, 35.05 lakh shares were traded on the BSE and over three crore shares changed hands on the NSE during the day.
Led by the sharp fall in the scrip, its market valuation fell by Rs 209.47 crore to Rs 1,044.53 crore on the BSE.
Jet Airways shares have been falling for ninth consecutive days, tumbling 39 per cent on the BSE. Stock exchanges will impose restrictions on trading in Jet Airways shares from June 28 as part of preventive surveillance measures to curb excessive volatility, according to a circular.
The cash-starved company suspended operations in April and lenders are working on ways for revival of the airline.