Shares of the now grounded Jet Airways on Tuesday tanked nearly 11 per cent on reports the Hinduja group and Etihad Airways may not proceed with their plan to revive the airline.
The development comes at a time two operational creditors moved the National Company Law Tribunal (NCLT) seeking bankruptcy proceedings against the airline.
The Jet stock tumbled 10.58 per cent on the BSE to close at Rs 111.95 after plunging 14.41 per cent during intra-day trades to Rs 107.15 — its 52-week low.
Similarly, Jet dropped 10.25 per cent to close at Rs 112 on the NSE. In terms of volumes, 18.10 lakh shares were traded on the BSE and over one crore shares changed hands on the NSE.
