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

Jet Airways shares gain 5 pc as Hinduja Group likely to bid for the airline
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New Delhi: 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.

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