Kingfisher Airlines shares plunge 20% on bourses
Quotes

Kingfisher Airlines shares plunge 20% on bourses

Last Updated: Tuesday, February 21, 2012, 11:46
 
 Comment 0
 
Kingfisher Airlines shares plunge 20% on bourses
Mumbai: Defying the rally in broader market, shares of crisis-ridden Kingfisher Airlines on Tuesday tumbled by about 20 percent in early trade.

After a weak opening, shares of the company slumped 19.54 percent to a low of Rs 21.40 on the BSE.

Profit booking dragged the company's stock down by 19.88 percent to Rs 21.35 on the National Stock Exchange.

Later, the shares recovered some ground but were still trading down 9.21 percent at Rs 24.15 on the BSE at 1100 hrs.

The crisis at debt-ridden airline aggravated yesterday after it cancelled 30 flights, including those to Bangkok, Singapore, Kathmandu and Dhaka, leaving hundreds of passengers stranded at various airports across the country.

It faced further problems with 34 pilots quitting and a large number of staff being put on notice.

Kingfisher top brass today appeared before the aviation regulator DGCA to explain large-scale flight disruption.

Kingfisher has reported losses of Rs 444 crore for the October-December quarter.

Meanwhile, in the broader market, the BSE benchmark Sensex was trading with a gain of 112.57 points at 18,401.92 points at 1105 hrs.

PTI



First Published: Tuesday, February 21, 2012, 11:46


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved