Shares of Jet Airways advanced for the second straight day on Wednesday and rose over 8 percent after Hinduja Group reportedly showed interest in buying a stake in the debt-ridden airline. The group is expected to meet Etihad Airways for further discussions this week, reported CNBC TV18, citing sources.

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Intraday, Jet Airways shares jumped as much as 8.61 percent to Rs 163.85 per share on the NSE. On Tuesday, Jet Airways' stock had gained 12 percent after the stake talks between Hinduja Group and Etihad Airways.

At 10:47 AM, the share price rose 6.36 percent at Rs 160.45 per share on the National Stock Exchange, while in comparison Nifty50 was trading at 11,750.35, higher by 41.25 points.

In response to CNBC-TV18’s query, a Hinduja Group spokesperson has confirmed that they are evaluating the opportunity to take stake in the cash-strapped airline.

According to banking sources, the talks are still at initial stages, and the Hindujas may meet Etihad Airways as early as Thursday to take the discussion forward.

Jet Airways has risen about 28 percent this week and 4 percent this month. In last one year, the stock price fell by 62 percent to current levels.

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First Published:May 22, 2019 11:22 AM IST