Shares of Jet Airways on Thursday rose by as much as 7% amid growing expectations of a possible deal between the airline and United Arab Emirates' Etihad Airways for stake sale.

After a positive opening, shares of the company further gained 6.74% to Rs. 618.70 on the BSE.

At NSE, the stock shot up by 6.17% to Rs. 615.65.

According to reports, Jet may strike a deal with Etihad, although there have been no official word on the same.

The stock has rallied over 65% since November last year till date on stake sale speculation.

Market experts said the uptick in the counter was largely on the back of stake sale report regarding the airlines.

Rally in the stock outperformed the broader market gain where the BSE benchmark Sensex was trading at 19,759.21, up 46.84 points in afternoon trade.