Jet Airways, however, termed the reports as "speculative in nature".
The stock gained 2.05 per cent to end at Rs 255.90 on BSE. Intra-day, it jumped 7.23 per cent to Rs 268.90.
At NSE, shares of the company rose by 1.11 per cent to close at Rs 254.
On the equity volume front, 2.1 million shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.
Shares of Jet Airways had soared 9.5 per cent Monday also.
BSE had yesterday sought clarification from Jet Airways with reference to the reports.
"The company has been regular in making the required disclosures in accordance with Regulations 30 of the Listing Regulations. It is, however, unable to comment on the reasons for the increase in its share price on the stock exchanges," the filing added.