KFA hits the roof on likely foreign alliance

The company issued the statement after trading hours on Tuesday, 11 December 2012.

Meanwhile, the BSE Sensex was up 59.66 points, or 0.31%, to 19,446.80.

On BSE, 11.18 lakh shares were traded in the counter as against an average daily volume of 64.01 lakh shares in the past one quarter.

The stock had hit a 52-week high of Rs 30.90 on 7 February 2012. The stock had hit a record low of Rs 7.01 on 13 August 2012.

The stock had outperformed the market over the past one month till 11 December 2012, rising 15.82% compared with the Sensex's 3.77% rise. The scrip had also outperformed the market in past one quarter, gaining 77.66% as against Sensex's 8.59% rise.

The small-cap private air carrier has an equity capital of Rs 808.72 crore. Face value per share is Rs 10.

However, no agreement has been reached either with Etihad or any other airline and the matters are merely at negotiation stages, Kingfisher Airlines said. The company issued this clarification after media reports suggested that Etihad Airways is set to buy stake in Kingfisher Airlines.

Kingfisher Airlines reported a net loss of Rs 753.55 crore in Q2 September 2012, higher than net loss of Rs 468.67 crore in Q2 September 2011. Net sales fell 87.1% to Rs 200 crore in Q2 September 2012 over Q2 September 2011.

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