Jet Airways stock extended loss and fell over 23 percent to hit its 52-week low of Rs 84.60 on Thursday after the National Stock Exchange said shares of the debt-laden airline would be pulled out of daily trading from June 28.

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The exchange cited Jet's failure to respond to queries about rumours in the market as the reason for the removal.

At 12 Noon, the stock lost 21.40 percent at Rs 86.70 on the NSE while the Nifty50 was down 78.45 points, or 0.66 percent, at 11,827.75. The stock has fallen over 31 percent in the last week and over 68.62 percent so far this year.

According to a stock exchange filing, Jet's securities will now be moved to the trade for trade segment with effect from June 28 as a "preventive surveillance measure", from the current rolling segment, which allows daily trading.

NSE also cited the company's failure to submit its financial results for the year ended March 31 as well as observations made by the airline's auditor as reasons for the move.

Earlier on Wednesday, the Directorate General of Civil Aviation (DGCA) de-registered 99 aircraft of Jet Airways, including 73 Boeing 737s and four Boeing B777s.

According to sources, who spoke to CNBC-TV18 on condition of anonymity, the lenders led by State Bank of India, Hindujas and Etihad met some officials of Jet Airways on Thursday in a bid to revive the struggling carrier.

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First Published:Jun 13, 2019 9:59 AM IST