Shares in Jet Airways on January 7 have hit upper circuit again for the sixth consecutive day. The gains are on the back of South American's expression of interest in the crisis hit airline company.
Despite the gains, the stock of Jet Airways is way below its 52-week high price of Rs. 313.50 on the NSE. Nonetheless, after today's gains of as much as 4.97% to Rs. 37, the stock has more than doubled in less than a month's time.
As per a leading dailies report, The American company has placed bid for the company in the first round. But it failed to provide for the debt resolution procedure for the debt-ridden company even after being allowed several extensions. So, in the wake of it, lenders again invited EOIs.
At their recent meet, the committee of creditors have decided January 15 to be the deadline for EOIs.
The airline company is trading under the Z category which includes stocks of companies that have failed to resolve investor complaint or have failed to comply with listing requirement.