The stock was trading at its lowest level since April 1, 2009. It recorded its sharpest intra-day fall since its listing on March 14, 2005. It ended 32.23 per cent lower at Rs 169 apiece.
According to a Business Standard report, lenders’ consortium, led by State Bank of India, indicated the effort to select a new investor would continue even as Jet was “temporarily” grounded on Wednesday.
The grounding comes after weeks of painstaking negotiations between the airline and its lenders for funds following a severe cash crunch that had led to defaults and mounting dues. The airline was initially committed an interim funding of Rs 1,500 crore in March, as part of a bank-led resolution plan which was to see the transfer of ownership and management to banks, added report.
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Jet Airways (India) is a part of the derivative markets/ future and options (F&O) segments. In case of stock, the price threshold is known as price bands, which are only available for stocks that are not a part of F&O. Even if the stock has no derivative, but is part of an index which has its own derivative contract, it will not have price bands.
At 09:47 am, Jet Airways was trading 27 per cent lower at Rs 175 on the NSE, as compared to a 0.01 per cent rise in the Nifty50 index. A combined 10.99 million equity shares changed hands on the counter on the NSE and BSE till the time of writing this report.
A sharp decline in market price of Jet Airways has seen investor lost Rs 929 crore market capitalisation in intra-day trade today. The company’s market-cap stood at Rs 1,965 crore, the BSE data shows.
 "Jet Airways")