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Jet Airways stock plunged heavily on insolvency appeal.

Lenders’ group led by the SBI (State Bank of India) has filed an insolvency appeal against the Jet Airways India Ltd with the National Company Law Tribunal (NCLT).

Reactively, the stock of JetAirways India tumbled about 50% intraday low level on Tuesday’s session. The lower circuit limit of Jet Airways stock is at Rs.31.65, down by about 50%.

On Tuesday, the stock of Jet Airways was hovering at its closing level of Rs.40.50 per share, down Rs.27.90 or 40.79% at 3:30 hours on the NSE.  In comparison, the NSE Nifty is about to close at 11691.50 up 19.35 points and the Sensex at 39,046.34 up 84.55points.