MUMBAI Dec 17 Shares of India's Jet Airways rose as much as 4.7 percent 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.
India's Mint 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 percent as of 0557 GMT, after earlier hitting its highest since January 2011. Shares have surged 18 percent over the prior four sessions. (Reporting by Anurag Kotoky; Additional reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)
Trending On Reuters
The Reserve Bank of India (RBI) kept its key lending rate unchanged on Tuesday, leaving the door open for more easing but making that dependent on meeting a challenging inflation target for 2017. Full Article