Jet Airways’ shares continued to fall for the second straight session on Friday, down 8 per cent, due to concerns over I-T officials conducting a survey of its premises.
After a weak opening, the airline shares further plunged 8 per cent to Rs 224.70 -- its 52-week low -- on the BSE. On the NSE, the stock slumped 7.11 per cent to hit a one-year low of Rs 225.85.
The stock had fallen nearly 4 per cent on Wednesday also. Stock markets were closed on Thursday for a local holiday.
Jet Airways said that Income-Tax officials had been conducting survey at its premises since September 19. On Wednesday, sources had said that the I-T Department is inspecting the books to ascertain whether there have been falsification of accounts, suspicious dealings and other possible violations.
In a regulatory filing on Friday, the airline said that I-T officials were conducting a survey of the premises of the company since September 19. “The company is fully cooperating with the authorities and is responding to the queries by the Income Tax authorities,” it said.
The airline had reported a net loss of Rs 1,323 crore for the June quarter on August 27. Jet Airways is also under the regulatory lens for deferring the results, which were initially scheduled to be announced on August 9.
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