Mumbai: Shares of Jet Airways Tuesday surged by over 8 percent on the bourses, as the company said it has mutually agreed with tax authorities on a payment schedule for the pending service tax dues.
After a weak opening on the BSE, the stock recovered all its losses and witnessed impressive buying by investors around the mid-day trade. The shares finally settled 7.64 percent higher at Rs 314.85 on the BSE.
During the intra-day trade, the stock soared as much as 9 percent to touch a high of Rs 318.30.
At the NSE, Jet shares closed 8.66 percent up at Rs 318.
Asserting that at its accounts were never frozen, Jet said it will pay its remaining service tax dues on March 15.