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Shares of Jet Airways surged 8 per cent in the afternoon trade, amid reports of Tata Group planning to buy a controlling stake in the cash-strapped airline company.
After a positive opening on the BSE, the company shares gained 7.9 per cent to touch the day’s high of Rs 278.3 apiece. On the National Stock Exchange, the scrip rose 8 per cent to an intra-day high of Rs 278.7.
A section of media reported that the Tata Group was conducting the due diligence of Jet Airways to buy the full-service carrier from its owner, Naresh Goyal. Jet Airways, however, termed the media reports as “speculative”.
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