"Please note that the said news item is a rumour and is speculative in nature and no such move is under contemplation. Clarification to this effect has already been provided to Financial Express and the same has since been reported by them," the company said in a Bombay Stock Exchange (BSE) filing.

Jet Airways was replying to a notification demanding clarification to the business daily's report published yesterday on the proposed stake hike which had resulted in Jet Airways scrip moving up.

"The company has been following a consistent corporate governance policy of disclosing all events and information that have bearing on the operation/performance of the company pursuant to decisions taken by the board of directors of the company from time to time but refrain from commenting on any such news items, to avoid any speculative activity," it added.

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