The shares of Jet Airways are soaring. Know why

Jet Airways (India), the nation's second largest private carrier, gained ground in trade today after the company reported a surge in its passenger traffic.

Jet said monthly domestic air passenger traffic data showed the airline's share jumped 63.4% to 13.35 lakh in July 2015 over the same month last year. Jet Lite's domestic air passenger traffic dropped 1% to 2.02 lakh in July 2015 over July 2014.

As a consequence, Jet Airways gained 7.25 rupees, or 1.9 percent, to 382.30 rupees on the National Stock Exchange where 9.9 lakh shares were traded versus the 5-day average of 27.9 lakh shares.

Jet Airway's market capitalisation has gained 53 percent to 4,278 crore rupees in the past one year.

Image credit: Indiatimes