Kingfisher Airlines surges on global enquiries for stake

DALAL STREET SPIKES

Kingfisher Airlines surged by 6.63 per cent to close at Rs 28.15 on reports that the company has received several enquiries from global carriers for a stake in the company. As per the present policy, foreign carriers are not allowed to take a stake in Indian carriers.

The company has requested the government to allow investment of up to 25 per cent in domestic airlines by foreign players. The stock opened 4.2 per cent higher at Rs 27.50 and made an intraday high/low of Rs 31.60/Rs 27.40. Total quantity traded was 18,67,441 shares (over thrice its two-week average).