The stock opened Rs 47.80 and surged to a high of Rs 51.80 - up 11.5%. Finally the stock ended with a gain of 7% at Rs 49.60. The counter witnessed heavy volumes of 3.52 million shares as against its two week daily average trade of 1.66 million shares.
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(Updated at 1130 hrs)
Kingfisher is trading at Rs 47, stronger by Rs 1 or 2%, on the BSE.
The Vijay Mallya-owned Kingfisher Airlines has resolved its long-pending aviation turbine fuel (ATF) payment dispute with Bharat Petroleum through an out-of-court settlement.
The airline will pay Rs 40 crore within 12 days and the rest in instalments within a year. The total dues are Rs 314 crore and the airline will also pay interest on this, said a BPCL official.
The airline was not getting any supply from BPCL for the past six months due to non-payment of dues.
