Jet Airways slips for eleventh straight session, down 16% on BSE
Shares of Jet Airways (India) continued to reel under pressure for the eleventh straight session to hit fresh lows during the intra-day trade on Monday. The stock was down 16 per cent to Rs 68.65 apiece on the BSE ahead of the lenders’ meeting later in the day to decide rescue plan for the cash-strapped airline.
The stock has tanked 53 per cent thus far in June, as compared to 1 per cent decline in the S&P BSE Sensex.
“The fate of Jet Airways, grounded since April 17, may be decided on Monday with lenders meeting to finalise how a resolution will be possible under the June 7 Reserve Bank of India (RBI) mandate on stressed assets,” an Economic Times report quoted three bankers familiar with the matter.
