Stocks

Jet Airways shares jump over eight per cent on Hinduja stake buy buzz

PTI New Delhi | Updated on May 22, 2019 Published on May 22, 2019

Shares of Jet Airways have risen for the third consecutive session. File photo   -  REUTERS

The stock gained 8.61 per cent to Rs 163.85 on the NSE

Shares of grounded Jet Airways advanced over eight per cent in early trade on Wednesday after the diversified Hinduja Group said it is evaluating the opportunity to invest in the airline.

On the Bombay Stock Exchange (BSE), the airline’s scrip rose 8.59 per cent to Rs 163.70.

The stock gained 8.61 per cent to Rs 163.85 on the National Stock Exchange (NSE).

“Hinduja Group is evaluating the Jet Airways opportunity,” the group said in a statement on Tuesday.

The grounded carrier shuttered its operations on April 17 and the lenders, led by the State Bank of India (SBI), are still scouting for investors to revive the airline, which has a debt burden of more than Rs 8,000 crore.

Shares of Jet Airways have risen for the third consecutive session. On Tuesday, the scrip closed with 14.73 per cent gains at Rs 150.75, while on Monday, it rose 5.88 per cent to settle at Rs 131.40 on the BSE.

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Published on May 22, 2019
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