Kingfisher jumps 5% as UB Group hikes loan limit

Kingfisher Airlines (KFA) gained on Tuesday after its group holding firm United Breweries (Holdings) said it is hiking its loan limit for the ailing carrier from Rs 3 to Rs 7.5 billion.UB Holdings has sought approval from its shareholders to revise the lending limit for Kingfisher and to authorise its board of directors to take necessary actions in this regard, the company said in a regulatory filing.

Shares of the company are trading at Rs 10.53, up Rs 0.5, or 4.99% at the Bombay Stock Exchange (BSE) on Tuesday at 10:22 a.m.The scrip has touched an intra-day high of Rs 10.53 and low of Rs 10.29. The total volume of shares traded at the BSE is 585,483.In the earlier session, the shares gained 4.92%, or Rs 0.47, at Rs 10.03. Currently, the stock is trading down 62.46% from its 52-week high of Rs 28.05 and above 50.21% over the 52-week low of Rs 7.01.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 11.13 (1.10) (9.88) 1 Month 14.21 (4.18) (29.42) 3 Months 13.54 (3.51) (25.92) 6 Months 9.67 0.36 3.72 1 Year 26.60 (16.57) (62.29) Note: Based on previous day closing price.