Kingfisher extends gains after UB Holdings hikes loan limit

Kingfisher Airlines (KFA) continued to trade higher on Wednesday 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 ofthe companyare trading at Rs 11.05, up Rs 0.52, or 4.94% at the Bombay Stock Exchange (BSE) on Wednesday at 1:05 p.m.The scrip has touched an intra-day high of Rs 11.05 and low of Rs 10.80. The total volume of shares traded at the BSE is 582,014.In the earlier session, the shares gained 4.99%, or Rs 0.5, at Rs 10.53. Currently, the stock is trading down 60.61% from its 52-week high of Rs 28.05 and above 57.63% over the 52-week low of Rs 7.01.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 10.58 (0.05) (0.47) 1 Month 13.51 (2.98) (22.06) 3 Months 13.47 (2.94) (21.83) 6 Months 9.31 1.22 13.10 1 Year 26.80 (16.27) (60.71) Note: Based on previous day closing price.