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Jet shares hit air pocket, slump 5%

Shares of Jet Airways dropped nearly 5 per cent on Monday after domestic rating agency Icra downgraded the airline's debt rating, saying it reflects delays in loan servicing by the company.

The stock of Jet Airways plunged 4.87 per cent to settle at Rs 232.65 on the BSE. During the day, the scrip declined by 5.13 per cent to Rs 232. At the NSE, the airline's scrip fell by 4.86 per cent to Rs 232.80.

In terms of volume, 3.09 lakh shares of the company changed hands at the BSE, while more than 12 lakh shares were traded at the NSE during the day.

Icra has categorised the airlines' two long-term and two short-term foreign currency loans valuing Rs 7,460 crore to 'D' rating from the earlier BB rating with a stable outlook.
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