Kingfisher Airlines shines on the bourses

10 Jan 2013

Kingfisher Airlines is currently trading at Rs. 13.72, up by 0.27 points or 2.01% from its previous closing of Rs. 13.45 on the BSE.

The scrip opened at Rs 13.75 and has touched a high and low of Rs 14.04 and Rs 13.00 respectively. So far 2499002 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 30.90 on 07-Feb-2012 and a 52 week low of Rs 7.01 on 13-Aug-2012.

Last one week high and low of the scrip stood at Rs 15.45 and Rs 12.45 respectively. The current market cap of the company is Rs 1103.91 crore.

The promoters holding in the company stood at 35.83% while Institutions and Non-Institutions held 15.61% and 48.56% respectively.

Hard times seem to have no end for Kingfisher Airlines as the employees, in Delhi, have sought closure of the cash-strapped carrier by initiating legal proceedings against the company on Thursday. Employees of debt laden carrier have demanded clearing of salary dues by selling company’s assets.

Further towards this development, the employees of the airline's maintenance and ground support departments, who held a meeting on January 9 at the Delhi airport, have also decided to submit a memorandum seeking an enquiry into the management of the company to the ministries of corporate affairs, civil aviation and labour.

Besides, the employees have already appointed two advocates who will begin the legal procedures on January 10, 2012 and will soon go to the court to file the case. The winding-up petition would be filed under the Companies Act to close down the airline, which has been grounded since October 2012.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323