Meanwhile, the BSE Sensex was down 41.68 points, or 0.25%, to 16,387.23.
On BSE, 61,329 shares were traded in the counter as against an average daily volume of 3.37 lakh shares in the past one quarter.
The stock hit a high of Rs 490 and a low of Rs 480.50 so far during the day. The stock had hit a 52-week high of Rs 605.95 on 3 December 2009 and a 52-week low of Rs 115.25 on 12 March 2009.
The stock had underperformed the market over the past one month till 17 February 2010, falling 9.13% compared with the Sensex's 6.41% fall. It outperformed the market in past one quarter, gaining 7.17% as against 3.65% decline in the Sensex.
India's largest private sector air carrier by market capitalisation has an equity capital of Rs 86.33 crore. Face value per share is Rs 10.
The current price of Rs 485.50 discounts the company's Q3 December 2009 annualised EPS of Rs 49.02, by a PE multiple of 9.90.
Jet Airways had purchased property in Mumbai's Bandra Kurla Complex in 2008. The company is now reported to be in advanced negotiations to sell a part of that land.
According to reports, the the front runners for the plot are Godrej Properties, Bharti Realty and Oberoi Constructions. Reports, however, suggest that Jet is in advanced negotiations with Godrej Properties. The deal is likely to close in the next eight to ten days.
Godrej Properties is reportedly looking to pay around Rs 450 crore for the plot. Jet had taken a loan from HDFC to purchase the land in 2008. Jet's current liability to HDFC stands at Rs 450 crore inclusive of interest payment.
Jet Airways (India) reported net profit of Rs 105.80 crore in Q3 December 2009 compared to net loss of Rs 214.18 crore in Q3 December 2008. Net sales fell 6.4% to Rs 2722.68 crore in Q3 December 2009 over Q3 December 2008.
Jet Airways (India) is an airline providing regular scheduled services on routes between all of India's major cities.