Jet Airways surges over 20% in four sessions

MUMBAI: Shares of Jet Airways have continued to remain in spotlight and have gained over 20 per cent in the last four sessions on reports that a Hong Kong-based brokerage & investment company has turned buyer in the counter. A Mumbai-based operator has also been showing interest in the stock lately, said an Economic Times report.

Analysts say hopes of further changes in FDI in aviation, as the government’s move to allow foreign airlines to buy up to 49 per cent stake in Indian airlines, were also pushing the stock higher.

At 12:10 pm, the stock was at Rs 489, up 11.80 per cent, on the NSE. It touched a 52-week high of Rs 500.95 and a low of Rs 436 in trade so far.

The stock is up 23 per cent from the closing price of Rs 399 on November 19, 2012.