Jet Airways shares jump on hopes of Etihad deal

Extending its rally for a fifth day on Monday, shares of Jet Airways closed with over 2 per cent gains amid hopes that United Arab Emirates' Etihad Airways will buy stake in the carrier.

Jet settled higher by 2.35 per cent at Rs 623.40 on the Bombay Stock Exchange.

During the day, the stock had surged 4.53 per cent to 52-week high of Rs 636.70.

On the National Stock Exchange, the scrip ended at Rs 623.70, up 2.58

per cent from its previous close.

Market experts said the uptick in the counter is largely on the back of stake sale report regarding the airline.

Stock markets have been abuzz with Etihad being interested in Jet Airways.

There have been reports that top Jet officials have recently been in the UAE to hold talks for a possible deal with Etihad, although there have been no official word on the same.