Jet Airways shares slump 7% after Tata Sons says no concrete 'proposal' made to acquire beleaguered airline

New Delhi: Shares of Jet Airways slumped 7 p.c on Monday after Tata Sons stated no concrete “proposal” had been made by the group to this point for buying the beleaguered service.

The inventory dropped 6.88 p.c to settle at Rs 323 on BSE. Through the day, it tumbled 12.57 p.c to Rs 303.25.

Jet Airways. Representational picture. Reuters

On NSE, shares of the corporate cracked 6.92 p.c to shut at Rs 322.50.

When it comes to fairness quantity, 36.37 lakh shares of the corporate had been traded on BSE and over three crore shares modified palms on NSE in the course of the day.

Tata Sons on Friday confirmed its curiosity in buying the beleaguered Jet Airways however stated no concrete “proposal” had been made by the group to this point.

“Over the previous few days there was rising hypothesis about Tata’s curiosity in Jet Airways. We want to make clear that any such discussions (to amass Jet Airways) have been preliminary and no proposal has been made,” Tata Sons had stated in an announcement.

In the meantime, lots of of passengers of Jet Airways had been left stranded on the Mumbai airport after the service cancelled 10 home flights from town on Sunday, an airline supply stated.

Jet Airways stated the flights had been cancelled from the Chhatrapati Shivaji Maharaj Worldwide Airport (CSMIA) as a result of “operational points”. Nevertheless, the airline supply claimed it was as a result of pilots’ shortage.

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