The stock of country's largest private airline company Jet Airways rallied more than 4 percent on Wednesday after it was reported that the company may sell 50 percent stake in its frequent flier unit to Etihad Airways.
Jet plans to raise about USD 150 million from this stake sale.
Last month, Abu Dhabi's Etihad Airways purchased three pairs of Jet's slots at London's Heathrow Airport for USD 70 million.
Promoter Naresh Goyal's Tail Winds holds 79.99 percent stake in Jet as of December 2012.
According to reports, Etihad has been looking to pick up 24 percent in two tranches but the deal kept getting postponed due to several issues.
Last week, CNBC-TV18 learnt from sources that both Jet and Etihad finally agreed on several sticky issues of board and management control, and are working on ironing out remaining differences.
The stock jumped nearly 18 percent in four consecutive sessions. At 13:29 hours IST, shares rose 2.85 percent to Rs 585.35 on Bombay Stock Exchange.
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