Jet Airways hits four-month high; soars 105% from October low

The stock rallied 30% to Rs 335 on BSE in the intra-day trade, its sharpest single day gain on reports of Tata Group is in talks to buy a controlling stake in the cash-strapped airline company.

Shares of Jet Airways hit a four-month high of Rs 335 per share, up 30% on the BSE in intra-day trade on Thursday after a media report suggested that Tata Sons Chairman N Chandrasekaran is expected to present to the board on Friday a business viability plan on a proposed acquisition of cash-strapped airline company.

“Tata Sons chairman N Chandrasekaran is expected to present the board on Friday (November 16) a business viability plan on the proposed acquisition of the struggling Jet Airways,” The Times of India report suggests.

According to an Economic Times report on Thursday, Tata SIA Airlines,