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Jet Airways shares bounce back; zoom 123%

In the last 13 trading days, shares of Jet Airways have tumbled 78 per cent.

PTI|
Updated: Jun 20, 2019, 03.41 PM IST
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India Jet Airways
On the NSE, shares zoomed 19 per cent to Rs 39.40 after dropping to an all-time low of Rs 26.55 during the morning trade.
New Delhi: Shares of Jet Airways bounced back after days of massive fall and rose sharply by 123 per cent Thursday.

Despite a weak opening, where the scrip hit an all-time low of Rs 27, it later pared the losses and ended 122.92 per cent higher at Rs 73.80 on the BSE. On NSE, the scrip ended 122% higher.

In the last 13 trading days, shares of Jet Airways have tumbled 78 per cent.

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 April 17 after it ran out of cash and unpaid lessors took away most of its 100-odd operational airplanes.

The tribunal will begin hearing on the matter from Thursday.
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