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Jet Airways hits upper circuit for 8th day, climbs 61% in 11 trading sessions

Jet Airways hits upper circuit for 8th day, climbs 61% in 11 trading sessions

Jet Airways hits upper circuit for 8th day, climbs 61% in 11 trading sessions
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By Mousumi Paul  Dec 27, 2019 12:34:48 PM IST (Published)

Jet Airways shares hit an upper circuit for the eighth straight session on Friday after the company disclosed that the Committee of Creditors (CoC) would seek fresh initial bids for the airline.

Jet Airways shares hit an upper circuit again on Friday after the company disclosed that the Committee of Creditors (CoC) would seek fresh initial bids for the airline.

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The stock has been locked in an upper circuit for the seventh straight day.
At 10:23 am, the stock was trading 4.96 percent higher at Rs 29.65 per share on the BSE. In the last 11 trading sessions, the stock climbed 61 percent to Rs 29.65.
The Resolution Professional in the filing said, "The 6th CoC meeting of Jet Airways (India) was held on December 17, 2019, and the CoC passed the resolution to issue fresh invitation of Expression of Interest for the corporate debtor in the e-voting concluded on December 22, 2019."
The debt-ridden airline is undergoing a resolution process under the Insolvency and Bankruptcy Code (IBC) after it shut its operations on April 17 this year.
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