(Reuters) -Britain's TT Electronics said on Friday it had rejected a takeover proposal from an unidentified suitor that was higher than a 248.6-million-pound ($315.2-million) proposal - which it also rebuffed - from Volex Plc.

Shares in TT Electronics, which makes electrical components, jumped as much as 54% to 121.5 pence on news of the bid interest, while Volex stock was down about 11%.

Volex, which makes power products and data connectivity cables, earlier said TT Electronics had rejected two of its proposals. The second comprised 62.9 pence in cash and 0.223 new Volex shares for each TT Electronics share, and valued TT stock at 135.5 pence apiece based on Volex's closing price on Oct. 31.

TT Electronics said it had also rejected an all-cash indicative proposal from an unidentified party at a "significantly higher value than the Volex proposal". The company added it was not currently in talks with that party.

Volex said it believed the terms of its second proposal offered a highly attractive opportunity for TT Electronics shareholders following ongoing operational and end-market challenges faced by the target company.

TT Electronics on Thursday cut its annual adjusted operating profit forecast for the second time in two months and now expects it to be at the lower end of a 37-42 million pound range.

The company is facing operational issues and subdued demand in North America, with an increase in costs, and has signalled a slow recovery in group order intake through 2025.

At 1515 GMT, TT Electronics shares - which had halved in value this year as of Thursday's close - were up 43% at 113 pence.

($1 = 0.7888 pounds)

(Reporting by Shanima A and Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich and Mark Potter)