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Kingfisher Airlines climbs on the bourses

08 May 2012 Evaluate

Kingfisher Airlines is currently trading at Rs. 15.25, down by 0.10 points or 0.66% from its previous closing of Rs. 15.15 on the BSE.

The scrip opened at Rs. 15.50 and has touched a high and low of Rs. 15.50 and Rs. 14.85 respectively. So far 2358574 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.90 on 09-May-2011 and a 52 week low of Rs. 12.95 on 07-May-2012.

Last one week high and low of the scrip stood at Rs. 15.55 and Rs. 12.95 respectively. The current market cap of the company is Rs. 1009.80 crore.

The promoters holding in the company stood at 47.28% while Institutions and Non-Institutions held 18.48% and 34.24% respectively.

Kingfisher Airlines' Chairman Vijya Mallya has assured the staff of paying their January salaries from May 9 onwards, on worries over the possibility of its employees dragging the airline management to the Labor court over non-payment of salaries.

The employees had demanded that the management should also clear the remaining salary in a phased manner by June 30. A section of the staff, including pilots and engineers were contemplating to move to the Labor court to seek its intervention and expedite settlement of their dues.

The company has also expressed hope that airline will return to global distribution network of IATA shortly. Beleaguered Kingfisher Airlines was suspended for non-payment of dues by the IATA in March from participating in a system which enables airlines to settle their interline billings globally. Airlines and airline-associated companies join the IATA Clearing House to settle accounts for services provided by them to other airlines or firms.

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