Stocks

Kingfisher shares hit lower circuit limit

PTI Mumbai | Updated on March 12, 2018 Published on October 22, 2012

Kingfisher Airlines stock fell nearly 5 per cent today to touch the lower circuit limit after its flying licence was suspended by the DGCA late last week.

The scrip was down 4.8 per cent and hit the lower circuit limit of Rs 10.90 soon after the opening trade on the BSE. A similar trend was witnessed on the NSE, where the stock plunged 4.82 per cent to Rs 10.85.

The Directorate General of Civil Aviation (DGCA) suspended the scheduled operator permit of Kingfisher Airlines following its failure to come up with a viable plan of financial and operational revival.

Meanwhile, selling pressure was also seen in other UB group stocks. United Breweries was trading 0.90 per cent lower, while United Breweries Holdings Ltd fell 2.86 per cent, UB Engineering (1.03 per cent), McDowell Holdings Ltd (3.03 pc) and United Spirits (2.81 pc).

In the broader market, the BSE benchmark Sensex was trading at 18,670.32, down 11.99 points.

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Published on October 22, 2012
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