Kingfisher Airlines is currently trading at Rs. 20.70, up by 1.05 points or 5.34% from its previous closing of Rs. 19.65 on the BSE.
The scrip opened at Rs. 19.30 and has touched a high and low of Rs. 21.20 and Rs. 19.00 respectively. So far 37,40,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 90.40 on 10-Nov-2010 and a 52 week low of Rs. 17.55 on 11-Nov-2011.
Last one week high and low of the scrip stood at Rs. 24.20 and Rs. 17.55 respectively. The current market cap of the company is Rs. 1,030.00 crore.
The promoters holding in the company stood at 58.61% while Institutions and Non-Institutions held 25.79% and 15.60% respectively.
Kingfisher Airlines, country’s second-largest carrier is planning to cut debt by more than half by selling its property, converting loans from its parent company into equity, and changing the terms under which it leases aircraft. The plan will result in debt coming down from Rs 6,500 crore to Rs 3,000 crore. The company’s management is likely to propose a preferential issue of equity to the promoters and other investors, meeting a key demand of banks that are insisting Vijay Mallya, the flamboyant tycoon who owns the airline, infuse equity into the troubled carrier.
Kingfisher is promoted by Mallya’s UB Group, which owns United Spirits, India’s biggest liquor company. The UB Group will also convert Rs 675 crore of debt into equity as part of the plan to pare debt.
The preferential issue of equity, if approved, will replace a rights issue of Rs 2,000 crore approved by the board in August. Once these plans are approved, Kingfisher will approach banks for up to Rs 500 crore of working capital to buy fuel and pay salaries, according to people familiar with the matter.
Kingfisher's lenders have made it clear that the airline would have to come up with acredible business plan. SBI is the lead lender to Kingfisher among the consortium of 13 banks. The banks have asked the airline’s owners to bring Rs 800 crore as equity.
Further, the cash-strapped airline cancelled 40 more flights on Sunday taking the total number of cancelled services to over 250 flights in one week putting thousands of passengers to inconvenience.
| Company Name | CMP |
|---|---|
| Interglobe Aviation | 4370.50 |
| SpiceJet | 61.60 |
| Global Vectra Helico | 288.05 |
| Taneja Aerospace | 470.90 |
| TAAL Enterprises | 3001.65 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Limited to the first 10 users today!
Practical Stock Investing Hand Book
By - Raymond Moses
Founder of MoneyWorks4Me | Consultant | Trainer | Author | TEDx Speaker
Register & Get Inatant Access!Don't miss out! First 10 users today get it FREE
With this 4 hrs Masterclass, you’ll be able to:
Download APP
