Private carrier Jet Airways fell as much as six per cent on the bourses on Friday, even though the company announced the reinstatement of all 1,900 sacked employees.
Shares of Jet Airways settled 5.85 per cent down at Rs 243.85. The scrip opened at Rs 270 and dipped further to touch the day's low of Rs 240.10.
Within a day of entering into an alliance with Kingfisher, Jet Airways had announced sacking of 1900 probationers and temporary staff to overcome the slowdown in the aviation sector.
Similar movements were witnessed on the National Stock Exchange also where the scrip settled at Rs 243.85, down 6.03 per cent. The scrip opened at Rs 265, which was its intra-day high, and dipped 7.28 per cent to an intra-day low of Rs 240.60. Nearly two lakh shares changed hands on the bourses.