Jet Airways in Friday's trade opened lower by 10% and cracked further to Rs. 37.80 but later due to heavy volumes in the stock more than doubled to Rs. 81.70 on the NSE.

And after today's gain, the stock has climbed sharply from its all time low of Rs. 26.55 by as much as 210%. On the BSE, the private airline's stock rallied 96% to Rs 76.80 from its intra-day low of Rs 39.10.

The gains have come after the lenders of the debt-laden airline have moved the NCLT for insolvency proceedings. The tribunal has sought the report in next 3 months time as against a period of 6 months. Resolution professionals from July 5 will also have to submit the report on a fortnightly basis.

The tribunal also declared a moratorium on recovery of dues from Jet, the country's first aviation firm to be admitted for bankruptcy.

GoodReturns.in