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Kingfisher Airlines hits roof on the buzz of potential stake sale

25 Sep 2013 Evaluate

Kingfisher Airlines is currently trading at its upper circuit limit of Rs. 5.65, up by 0.51 points or 9.92% from its previous closing of Rs. 5.14 on the BSE.

The scrip opened at Rs. 5.65 and has touched a high and low of Rs. 5.65 and Rs. 5.65 respectively. So far 547175 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 18.09 on 14-Dec-2012 and a 52 week low of Rs. 3.17 on 30-Aug-2013.

Last one week high and low of the scrip stood at Rs. 5.65 and Rs. 4.42 respectively. The current market cap of the company is Rs. 456.93 crore.

The promoters holding in the company stood at 32.12%, while Institutions and Non-Institutions held 12.86% and 55.02% respectively.

Kingfisher Airlines is reportedly in talks with a foreign investor for a potential stake sale, however, the company has not yet disclosed any name. The company has been, many times, in talks with potential investors, but the plans have not materialized so far.

The airline has been grounded from October 2012 and since December it has lost its flying license. The 17 lenders of the airline owe them nearly Rs 7,500 crore in principal, excluding arrears since January 2012. As a part of their recovery, they have sold sureties and shares of the airline as well as group companies worth around Rs 1,000 crore so far.

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