Shares of Jet Airways rose as much as 4.7% on Monday to a near two-year high, and were headed for a fifth straight session of gains, on growing expectations that Abu Dhabi's Etihad Airways will buy a stake in the carrier.
A newspaper reported on Monday, Etihad may decide as early as this week whether it will invest in Jet Airways or Kingfisher Airlines, citing two people familiar with the development who requested anonymity.
Jet declined to comment.
Jet was up 4.3% as of 0557 GMT, after earlier hitting its highest since January 2011. Shares have surged 18% over the prior four sessions.
