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Kingfisher Airlines surges nearly 5% on seeking nod to fly again

By Religare
Kingfisher Airlines surges nearly 5% on seeking nod to fly
Shares of Vijay Mallya owned Kingfisher Airlines soared nearly 5 per cent in early trade on Bombay Stock Exchange (BSE) after the company sought regulatory approvals to re-launch its operations.

Grounded airline has submitted a plan to the Directorate General of Civil Aviation (DGCA) to restart operations, asking for its licence to be renewed with the help of funds from its parent UB Group.

Cheering the news, shares of company gained as much as 4.90 per cent to trade at Rs 7.91 a piece on the BSE.

In a similar fashion, shares of the company were quoting at Rs 7.90 a piece, up 4.64 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 18,505.31, up 90.86 points or 0.49 per cent at 10:10 hours.

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