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Kingfisher at year-high on report of Wilbur Ross investment plan

Kingfisher at year-high on report of Wilbur Ross investment plan
PTI
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First Published: Thu, Oct 07 2010. 05 42 PM IST
Updated: Thu, Oct 07 2010. 05 42 PM IST
Mumbai: Shares of Kingfisher Airlines shot up over 5% on the Bombay Stock Exchange today amid media reports that billionaire investor Wilbur Ross is planning to invest $100-150 million in the Vijay Mallya-run company.
The stock scaled its year-high level of Rs86.95 during the day before closing 5.40% higher at Rs80.05.
According to reports, global private equity investor Wilbur Ross is planning to invest $100-150 million through convertible debt route in the company.
On the National Stock Exchange, the scrip rose by 5.66% to settle at Rs80.25.
In terms of volume,, over six crore shares of Kingfisher were traded on the bourses.
Other aviation stocks, including Spicejet closed up 0.71% and Jet Airways by 1%.
The 30-share bellwether Sensex finished the day lower by 227.76 points at 20,315.32.
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First Published: Thu, Oct 07 2010. 05 42 PM IST
More Topics: Kingfisher | Wilbur Ross | Vijay Mallya | Stocks | BSE |