SpiceJet, which is seen as another takeover target, rose 20 per cent to Rs 61 against its Wednesday's close of Rs 50.55. The volume in the scrip tripled to 30,43,939 compared with its two-week average volume of 10,68,837. Similarly, volume growth was also reported in Deccan Aviation [Get Quote] scrip.

Deccan Aviation gained 11.56 per cent to Rs 146.20, after the Vijay Mallya-controlled United Breweries [Get Quote] Holdings said that it will buy 26 per cent of the company for Rs 550 crore and is looking forward to buy a further 20 per cent.

The scrip is moving northwards since last one month, as Deccan Aviation was considering proposals to infuse additional capital by way of private equity or stake sale.

It has gained 41 per cent since last one month, where it stood at Rs 103. Deccan will issue 35 million preferential shares at Rs 155 to UB group, which is significantly lower than the scrip's 52 week high of Rs 162. Jet Airways [Get Quote], the biggest private carrier in the country, rose 1.36 per cent to Rs 769.53, while its volumes also doubled.