Why Jet Airways share hit lower circuit of 5% today

Jet Airways shares fell to a lower circuit of 5% in Tuesday's early trade after the cash-strapped domestic carrier reported a standalone loss of Rs 2,841.45 crore for the year ended March 2020.

Jet Airways stock price opened with a loss of 5% to an intraday low of Rs 104.50 on BSE as against the last close of Rs 110. The stock has fallen 9.7% in the last 2 days.

The share price of Jet Airways has risen 4.5% in one week, and 279% in one year. However, it has fallen 17% in a month. Year-to-date, the stock is down 14%.

Market capitalisation of the airline stood at Rs 1,187.09 crore. The stock has touched a 52-week high of Rs 165 and a 52-week low of Rs 13.

Jet Airways stock trades higher than 20, 100 and 200-day but lower than 50, 5-day moving averages.

The airline had a total income of Rs 354.2 crore during the 2019-20 financial year, the company said in a filing to the BSE.

Jet Airways, that suspended operations in April 2019, is undergoing insolvency resolution process.

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