Jet Airways shares end over 5% higher

Shares of Jet Airways Wednesday surged over 5 per cent amid reports that Naresh Goyal will sell stake in the company.

The stock soared 5.20 per cent to end at Rs 308.80 on the BSE. During the day, it jumped 8.94 per cent to Rs 319.80.

On the NSE, shares of the company surged 5 per cent to close at Rs 308.40.

In terms of equity volume, 23.98 lakh shares of the company were traded on the BSE and over 2 crore shares changed hands on the NSE during the day.

The BSE had sought clarification from Jet Airways (India) with respect to news that Jet Airways shares surge on report of Goyal's exit.

Later in a clarification, the company said that the subject news is "speculative in nature".

"Please note that the subject news is speculative in nature and we are committed to make appropriate disclosures in accordance with applicable regulations to avoid any speculative activities," "Jet Airways said in a BSE filing.

There have been no discussions or decisions by the board, which would require a disclosure, the filing added.

The company is, however, unable to comment on the reasons for the increase in its share price on the stock exchanges, it said.