Mumbai, Dec. 24 (PTI): The shares of Kingfisher Airlines today rose 5 per cent to touch the day’s high after it submitted a revival plan to the DGCA.
The shares shot up 5 per cent to Rs 15.97 — its upper circuit limit on the Bombay Stock Exchange .
On the NSE, the stock was up 4.93 per cent at Rs 15.95.
The rally in the Kingfisher stock was in contrast with an overall sluggish stock market, where the BSE 30-scrip index, Sensex, ended at 19255.09, up 13.09 points
The broad-based National Stock Exchange index Nifty advanced 8.05 points to close at 5855.75.
The cash-strapped airline is yet to pay its staff for seven months.
Kingfisher chairman Vijay Mallya had told the 17-lender consortium he was preparing to restart limited operations with an estimated fund infusion of Rs 425 crore through internal resources.
Kingfisher, which has a debt of nearly Rs 8,000 crore and accumulated losses and liabilities of a similar amount, has been grounded since October 1, after its pilots and engineers went on a strike.