Kingfisher still grounded but shares take off

Counter gains nearly 80% so far this month

Vijay Mallya promoted Kingfisher Airlines (KFA) may still be grounded but its shares have taken a strong take off so far this month.

At a time when key benchmark indices slipped, counter of KFA has gained a whopping 80% in September.

Ever since Mallya said he was still working on a deal to finance the debt-laden airline with a foreign player, shares of KFA are continuously hitting upper circuit on the stock exchanges.

Currently, the stock is trading at Rs 6.21 or 9.91% up on the BSE.

Though market participants are wary about the company, speculators seem to rushing in to buy the rising counter.