Shares of grounded Jet Airways advanced over 8 per cent in early trade Wednesday after the diversified Hinduja Group said it is evaluating the opportunity to invest in the airline.

On the Bombay Stock Exchange (BSE), the airline's scrip rose 8.59 per cent to Rs 163.70.

The stock gained 8.61 per cent to Rs 163.85, on the NSE.

"Hinduja Group is evaluating the Jet Airways opportunity," the group said in a statement on Tuesday.

The grounded carrier shuttered its operations on April 17 and the lenders, led by SBI, are still scouting for investors to revive the airline, which has a debt burden of more than Rs 8,000 crore.

Shares of Jet Airways have risen for the third consecutive session. On Tuesday, the scrip closed with 14.73 per cent gains at Rs 150.75, while on Monday, it rose 5.88 per cent to settle at Rs 131.40 on the BSE.