Technical analyst Prabir Kumar Sarkar of SPA Securities is bearish on Jet Airways Limited and has maintained 'sell' rating on the stock with targets of Rs 450 and 440.

According to Wadharia, the stock can be purchased with a stop loss of Rs 471.

Today, the stock of the company opened at Rs 460 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 926.35 and a low of Rs 398 on BSE.

Current EPS & P/E ratio stood at 10.84 and 43.13 respectively.

To meet up the growing fuel expenditures, Indian airlines have commenced to pass a few of the cost on to riders by increasing aviation turbine fuel surcharge component in the ticket cost.

Jet Airways stated that the increase in oil rates forced it to continuously 're-adjust' the ticket rates.

Aviation fuel costs, appraised fortnightly, have been increasing since September last year.

From Rs 40,138 per kl during September last year, the fuel rates hit the Rs 50k per kl mark to attain almost Rs 58,000 per kl during the latest review on March 16.

Jet Airways has also 'regulated' fuel surcharge to soak up the impact of growing ATF costs.

"We have not raised the fares but we have adjusted the fuel surcharge. We are forced to pass it on to the passengers as increasing fuel prices has squeezed our margins," said Sudheer Raghavan, chief commercial officer of Jet Airways.