Jet Airways' shares up 8% at Rs 278 on reports of Tata Group buying controlling stake in cash-strapped airline

New Delhi: Shares of Jet Airways on Thursday surged 8 percent in afternoon trade, amid reports that Tata Group was in talks to buy a controlling stake in the cash-strapped airline company.

Jet Airways. Representational image. Reuters

Jet Airways. Representational image. Reuters

After a positive opening on BSE, shares of the company gained 7.9 percent to touch the day's high of Rs 278.3 apiece.

On the National Stock Exchange also, the firm followed similar uptrend as the scrip rose to an intra-day high of Rs 278.7, 8 percent higher as compared with the previous day close.

A section of media reported that Tata group was conducting due diligence of Jet Airways to buy the full-service carrier from its owner, Naresh Goyal.

Jet Airways, however, termed media reports of Tata group carrying out due diligence to acquire the airline as "speculative".

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Updated Date: Nov 15, 2018 14:37:18 IST

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