• Thursday, March 28, 2024

Business

India’s Jet Airways Shares Climb After Tata Investment Speculation

A spokesperson for Jet termed the reports “speculative in nature” in a statement to India’s stock exchange. The cash-strapped firm was not immediately available for further comment (Photo: SAJJAD HUSSAIN/AFP/Getty Images).

By: Radhakrishna N S

Shares in India’s second-largest airline Jet Airways jumped almost three per cent on Wednesday (14) following reports that salt-to-steel conglomerate Tata Group might invest in it. Tata is reviewing Jet’s accounts with a view to potentially buying a stake, Bloomberg News reported, while on Tuesday (13) the Mint daily said Tata’s finance chief and Jet’s chairman were leading the talks. A spokesperson for Jet termed the reports “speculative in nature” in a statement to India’s stock exchange. The cash-strapped firm was not immediately available for further comment. After reporting a loss of $178 million for July-September, Jet on Monday (12)…

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