Kingfisher crisis: Shares hit lower circuit after licence suspension

Kingfisher Airlines shares fell in the morning trade on Monday and touched the lower circuit limit after Directorate General of Civil Aviation (DGCA) suspended the flying licence of the airline late last week.

The Directorate General of Civil Aviation (DGCA) suspended the Scheduled Operator Permit (SOP) of Kingfisher Airlines following its failure to come up with a viable plan of financial and operational revival.



The scrip of the financially-troubled company was down 4.8 per cent and hit the lower circuit limit of Rs 10.90 soon after the opening trade on the BSE.

Similar was the trend at the NSE, where the stock plunged 4.82 per cent to Rs 10.85.

Kingfisher Airlines on Friday lost its license to fly with aviation regulator DGCA suspending it with immediate effect.

Meanwhile, selling pressure was also seen in other UB group stocks. United Breweries was trading 0.90 per cent lower, while United Breweries Holdings Ltd fell by 2.86 per cent, UB Engineering (1.03 pc), McDowell Holdings Ltd (3.03 pc) and United Spirits (2.81 pc).

In the broader market, the BSE benchmark Sensex was trading at 18,670.32, down 11.99 points at 1034 hrs.

With PTI inputs