BUSINESS & FINANCE
Jet Airways stock hits 52-week low as board defers Q1 result announcement
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.
- Walmart Inc completes deal to acquire 77% stake in Fipkart; to invest USD 2 bn 18 Aug 2018 | PTI
- Rupee might stabilise at 68-69 a dollar: Garg 18 Aug 2018 | PTI
- FCCU shutdown not impacting Jamnagar refining biz:RIL 18 Aug 2018 | PTI
- Infosys CFO Ranganath resigns 18 Aug 2018 | PTI
- India clocked 10.08 pc growth under Manmohan Singh's tenure, shows data 17 Aug 2018 | PTI
- Operators must pay attention to cyber security, reasonableness of charges: Patel 17 Aug 2018 | PTI
- PVR completes acquisition of 71.6% stake of SPI Cinemas 17 Aug 2018 | PTI
- Apollo ties up with Microsoft for AI-powered CDV Risk Score 17 Aug 2018 | PTI
- Jet Airways board to meet on Aug 27 to consider June quarter results 17 Aug 2018 | PTI
- Rupee appreciates marginally; still below 70 per dollar mark 17 Aug 2018 | IANS
Sunday EditionView All
19 Aug 2018 | TN RAGHUNATHA | Mumbai
Five years after the renowned rationalist Narendra Dabholkar was shot dead by two unidentified gunmen in Pune, the CBI on Saturday arrested one of the sharp-shooters who allegedly pulled the trigger. Identiying the arrested person as one Sachin Prakashrao Andure from Aurangabad, a senior official said that Andure was one of the sharp-shooters who allegedly shot Dr Dabholkar...
STATE EDITIONSView All
19 Aug 2018 | PNS | Ranchi
Yet another girl from the Capital City Khushboo Vijay became the winner of Miss India International Global 2018 and will be representing India next year in Malaysia 2019 for World Finale. The event was held in Guwahati on August 2018...