Narendra Modi's Washington test

Narendra Modi's Washington test

If Modi gets the world’s biggest power right, his pursuit of larger global goals...
Small banks or banks for ‘small’ people?

Small banks or banks for ‘small’ people?

Unless appropriate sub-limits are imposed on loans, there is a serious...

Kingfisher Airlines shares surge 10 pct

Sep 25 2013, 19:09 IST
Comments 0
Shares of Kingfisher climbed 9.92 per cent to Rs 5.65 -- its upper circuit limit at the BSE. Shares of Kingfisher climbed 9.92 per cent to Rs 5.65 -- its upper circuit limit at the BSE.
SummaryShares of Kingfisher climbed 9.92 per cent to Rs 5.65 -- its upper circuit limit at the BSE.

Rising for the second straight session, Kingfisher Airlines shares today gained nearly 10 per cent to touch its highest trading permissible limit for the day, after its Chairman Vijay Mallya said the company is in talks with a foreign investor for potential stake sale.

Shares of Kingfisher climbed 9.92 per cent to Rs 5.65 -- its upper circuit limit at the BSE.

Vijay Mallya-led United Spirits to offer up to 11.5% interest rate on fixed deposit scheme

At the NSE, the stock surged 9.8 per cent to hit an upper limit of Rs 5.60.

In the previous session, KFA stock had rallied nearly 10 per cent.

Kingfisher Airlines Chairman Vijay Mallya had said yesterday that the carrier is in talks with a foreign investor for potential stake sale, its

"I expect this to take some form or shape in about 90 days. That is in my own estimate. It could be longer or it could be even earlier," Mallya had said.

Kingfisher Airlines has remained grounded for almost a year now under the burden of huge debts totaling over Rs 7,000 crore and accumulated losses of more than Rs 16,000 crore.

Meanwhile, buying was also seen in other Mallya group stocks, with United Breweries Holdings Limited (UBHL) surging 4.26 per cent and United Breweries Ltd rising by 0.52 per cent on the BSE.

The broader marker was, however weak, with the BSE benchmark Sensex losing 63.97 points to close the day at 19,856.24.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...