Jet Airways shares rise over 5 pc on Hinduja stake buy buzz

Shares of grounded Jet Airways advanced over 5 per cent Wednesday, a day after the diversified Hinduja Group said it is evaluating the opportunity to invest in the airline.

On the BSE, the airline's scrip jumped 5.17 per cent to close at Rs 158.55. Intra-day, it touched a high of Rs 164.90.

The stock has gained 27.75 per cent in the past three sessions. On Friday, it had closed at Rs 124.1 per share.

On the National Stock Exchange (NSE), the stock settled at Rs 153.80, gaining 1.96 per cent. After opening at Rs 152 a unit, it touched an intra-day high of Rs 165.

In terms of equity volume, over 3.9 crore shares were traded on the bourses.

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

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

On Tuesday, the scrip closed with a 14.73 per cent gain at Rs 150.75, while on Monday, it rose 5.88 per cent to settle at Rs 131.40 on the BSE.