Jet Airways (India), a provider of domestic and international airline services, witnessed a rise in share price on Thursday after the board of directors of the company and Jet Lite (India), the wholly owned subsidiary of Jet Airways, approved the merger of Jet Lite with Jet Airways.

"The existing equity shares held by Jet Lite (India) and its nominees in Jet Airways shall stand cancelled without any consideration," the airline said, adding that Jet Lite shall stand dissolved.

The merger will further strengthen Jet Airways' efforts in providing a consistent, single brand product and service offering across the network, leading to a stronger market presence.

Shares of company are trading at Rs 326.05, up Rs 6.45, or 2.02% at the Bombay Stock Exchange (BSE) on Thursday at 11:55 a.m.

Total volume of shares traded on the bourses today was lower by 81.08% to 927,540 compared with 22-day average volume of 4,901,859.