Jet Airways shares gain 5 pc as Hinduja Group likely to bid for the airline

Jet Airways shares on Tuesday gained five per cent to touch its highest trading permissible limit amid reports that Hinduja Group is preparing a bid to buy the grounded carrier.

The scrip jumped 4.96 per cent to Rs 29.60 -- its upper circuit limit --on the BSE.

On the NSE, it went up 4.87 per cent to Rs 29.05 - its highest trading permissible limit for the day.

As per media reports, the UK-based group plans to submit an expression of interest by the January 15 deadline, signalling its intent to make a formal offer.