Stock market analyst Hitendra Vasudeo of stockmechanics.com has maintained 'Sell' rating on Jet Airways stock to achieve a target that lies between Rs 221.30-Rs 178.30.

According to Mr. Vasudeo, investors can sell the stock around Rs 264.30 with a stop loss of Rs 276.

Today (June 18), the stock opened at Rs 239 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 567 and a low of Rs 115.25 on BSE.

Mr. Vasudeo is of the view that investors should sell the stock today to avoid loss.

After selling the stock, the interested investors can enter the stock again at a low price, for medium or long term prospective.

Jet Airways on June 17, raised its fuel surcharge by Rs 400 on all domestic segments, and attributed it to a rise in aviation fuel rates.

The fuel surcharge will be applicable on all Jet Airways, Jet Airways Konnect and JetLite flights from Wednesday.

Jet Airways, on June 09, said that it will cut capacity by additional 10% and redeploy surplus aircraft to decide on international routes showing some recovery signals.

During the last week, the company cut capacity by a fifth in India and was planning to trim it further.

Jet Airways India posted a net profit of Rs 529.90 million during the quarter ended March 31, 2009, as against a loss of Rs 2,211.80 million during the same period of the last year.

During the period, the company’s total income fell 8.23% to Rs 25,662.10 million as compared with the prior year period.