Kingfisher plunges 4.8% on license suspension

Vijay Mallya led Kingfisher Airlines (KFA) plunged on Monday after the company was grounded by the aviation regulator Directorate General Civil Aviation (DGCA). It has suspended the scheduled operator permit (SOP) of the cash trapped airline.

Since last three weeks there is lockout at KFA as the employees are on strike due to non-payment of salaries. The decision to suspend the permit of the air carrier came after it failed to submit a viable plan of financial and operational revival. Shares ofthe companyare trading at Rs 10.90, down Rs 0.55, or 4.80% at the Bombay Stock Exchange (BSE) on Monday at 9:21 a.m.The scrip has touched an intra-day high of Rs 10.90 and low of Rs 10.90. The total volume of shares traded at the BSE is 20,677.In the earlier session, the shares fell 4.58%, or Rs 0.55, at Rs 11.45. Currently, the stock is trading down 64.72% from its 52-week high of Rs 30.90 and above 55.49% over the 52-week low of Rs 7.01.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 11.40 0.05 0.44 1 Month 12.48 (1.03) (8.25) 3 Months 10.56 0.89 8.43 6 Months 16.90 (5.45) (32.25) 1 Year 22.65 (11.20) (49.45) Note: Based on previous day closing price.