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

Jet Airways shares on Tuesday gained five percent 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 percent to Rs 29.60 -- its upper circuit limit --on the BSE.

On the NSE, it went up 4.87 percent 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, signaling its intent to make a formal offer.