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Kingfisher Airlines trades higher on the BSE

11 Jan 2012 Evaluate

Kingfisher Airlines is currently trading at Rs 22.40, up by 1.30 points or 6.16% from its previous closing of Rs 21.10 on the BSE.

The scrip opened at Rs 21.55 and has touched a high and low of Rs 22.55 and Rs 21.50 respectively. So far 1811788 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 60.95 on 13-Jan-2011 and a 52 week low of Rs 17.55 on 11-Nov-2011.

Last one week high and low of the scrip stood at Rs 21.55 and Rs 18.00 respectively. The current market cap of the company is Rs 1115.03 crore.

The promoters holding in the company stood at 58.61% while Institutions and Non-Institutions held 25.79% and 15.60% respectively. 

Cash-strapped Kingfisher Airlines has paid outstanding service tax to the tune of Rs 20 crore. The beleaguered airline has paid this amount up to December 2011 leaving the outstanding amount of Rs 60 crore left to be paid.

Recently, Directorate General of Civil Aviation (DGCA) had issued letters to Kingfisher Airlines (KFA) for violation of Rule 140 A of aircraft Rules 1937. The letters had been issued as the airline company was not operating 175 of the 418 daily departure flights approved for it during winter schedule 2011 leading to cancellation of its slots.

In response, the airline company informed that they have initiated reconfiguration of their aircraft due to which some of their aircraft are out of service for a few weeks.

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