June 13, 2019

NSE to remove Jet Airways shares from daily trading

Jet's securities will now be moved to the trade for trade segment with effect from June 28 as a "preventive surveillance measure", from the current rolling segment, which allows daily trading, the stock exchange said in a circular.

"There are concerns with regard to continuity of flow of information about the company which is very vital for the appropriate price discovery in the scrip," NSE said, adding that trading in the stock may not reflect the actual status of the company.

NSE also cited the company's failure to submit its financial results for the year ended March 31 as well as observations made by the airline's auditor as reasons for the move.

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