Jet Airways slips as CCI imposes fine of Rs 39.81 crore

08 Mar 2018

Jet Airways (India) is currently trading at Rs. 673.95, down by 34.20 points or 4.83% from its previous closing of Rs. 708.15 on the BSE.

The scrip opened at Rs. 703.00 and has touched a high and low of Rs. 716.00 and Rs. 655.65 respectively. So far 214925 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 883.65 on 05-Jan-2018 and a 52 week low of Rs. 426.10 on 08-Mar-2017.

Last one week high and low of the scrip stood at Rs. 751.75 and Rs. 655.65 respectively. The current market cap of the company is Rs. 8029.06, crore.

The promoters holding in the company stood at 51.00%, while Institutions and Non-Institutions held 16.90% and 32.10% respectively.

The Competition Commission of India (CCI) has imposed a fine of Rs 39.81 crore on Jet Airways for unfair business practices with respect to fixing fuel surcharge on cargo transport. The watchdog has also directed Jet Airways to cease and desist from anti-competitive practices. The order has come on a complaint filed by Express Industry Council of India against the airlines alleging cartelisation.

Jet Airways is India’s premier international airline, which operates flights to India and overseas. The company’s robust domestic India network spans the length and breadth of the country covering metro cities, state capitals and emerging destinations.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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