Jet Airways stock hits 52-week low as board defers Q1 result announcement

The stock is on a downward trend for the last six consecutive sessions and has declined by 21 per cent since August 2.

Published: 10th August 2018 04:02 PM  |   Last Updated: 10th August 2018 04:02 PM   |  A+A-

Jet Airways aircrafts (Photo | File/Reuters)


NEW DELHI: Shares of Jet Airways today plunged 14 per cent and touched its 52-week low in morning trade after the company deferred announcing the June quarter numbers.

In a BSE filing late last night, the Naresh Goyal-run airline said the board of directors has decided not to review the unaudited financial performance for the June quarter.

Following this, the shares of the company today opened on a weak note at Rs 271.55, then fell to a low of Rs 261.60, down 13.29 per cent, over its previous closing price on BSE.

Similar movement was seen on the NSE as well, where the stock opened at Rs 271.60, then fell 14.49 per cent to its 52-week low of Rs 258.

The stock is on a downward trend for the last six consecutive sessions and has declined by 21 per cent since August 2.

Since the start of this year, the stock has tumbled a whopping 69 per cent.

"The audit committee did not recommend financial results to the board for its approval, pending closure of certain matters," the airline had said in the regulatory filing without offering more details.

Addressing the shareholders yesterday, Goyal said he felt "guilty and embarrassed" as they have lost money.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp