Shares of Jet Airways Thursday surged 8 per cent in afternoon trade, amid reports that Tata Group was in talks to buy a controlling stake in the cash-strapped airline company.
After a positive opening on BSE, shares of the company gained 7.9 per cent 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 per cent 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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