Jet Airways shares tanked over 12 percent in early trade on Thursday after stock exchanges decided to impose restrictions on trading in the airline shares from June 28 as part of preventive surveillance measures to curb excessive volatility.
The scrip was trading 12.60 percent down at Rs 97.70 on NSE at around 9.34 am (IST), while it was trading 12.73 percent lower at Rs 96.35 on BSE at around the same time.
NSE in a circular said that shares of the company would be shifted from “Rolling Segment to Trade for Trade Segment, wherein the settlement in the scrip will take place on a gross basis with 100 percent upfront margin and 5 percent price band”.
There are restrictions in trading of shares that are under Trade for Trade Segment. The decision has been taken jointly by the exchanges and would be effective from June 28, it said.