Comments
Kingfisher Airlines was one of the most active stocks last week. Amid talk of fresh fund infusion by strategic investors, it jumped over 32 per cent. It touched a high of Rs 10.36 but settled at Rs 9.78 against the previous week close of Rs 7.4. However, it remains to be seen whether it can sustain the rally after Mumbai operations of KFA were affected on Saturday as sections of pilots stayed away. They were protesting against non-payment of salaries for the past seven months. The company recently reported a bigger loss of Rs 651 crore for the quarter ended June 30, 2012, from Rs 264 crore a year ago. Revenue too dropped to Rs 301 crore (Rs 1,907 crore). Meanwhile, LKP Merchant Financing has been reducing its stake in Kingfisher Airlines constantly. It now holds only 3.16 per cent stake in the company.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.