Kingfisher Airlines hits roof on stake sale report
At 0935 hours, there are pending buy orders for 7.21 million shares on BSE and NSE.
Shares of Kingfisher Airlines, a Vijay Mallya led United Breweries Group company, is locked in upper circuit for second day in a row, up 10% at Rs 5.65 on reports that the group is in talks with a foreign investor for potential stake sale.
“Kingfisher Airlines is in talks with a foreign investor for potential stake sale and a decision in that regard is expected in about 90 days,” the PTI report suggests quoting the company’s Chairman Vijay Mallya.
Mallya also said that the company is ready to pay one month’s salary to the now grounded airline’s employees on “humanitarian grounds.
The stock hit a record low of Rs 3.17 on August 30, has surged nearly 80% in past one month on BSE. A combined 465,000 shares change hands on the counter so far and there are pending buy orders for 7.21 million shares on BSE and NSE at 0935 hours.
Meanwhile, other two listed aviation stocks – SpiceJet (up 3% at Rs 22.65) and Jet Airways (up 2% at Rs 355) are also trading higher in otherwise subdued market.
“Kingfisher Airlines is in talks with a foreign investor for potential stake sale and a decision in that regard is expected in about 90 days,” the PTI report suggests quoting the company’s Chairman Vijay Mallya.
Mallya also said that the company is ready to pay one month’s salary to the now grounded airline’s employees on “humanitarian grounds.
The stock hit a record low of Rs 3.17 on August 30, has surged nearly 80% in past one month on BSE. A combined 465,000 shares change hands on the counter so far and there are pending buy orders for 7.21 million shares on BSE and NSE at 0935 hours.
Meanwhile, other two listed aviation stocks – SpiceJet (up 3% at Rs 22.65) and Jet Airways (up 2% at Rs 355) are also trading higher in otherwise subdued market.