Kingfisher stock hits historic low on recovery worries

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Kingfisher stock hits  historic low on recovery worries
Shares in Kingfisher Airlines hit a historic low of Rs 6.87 on renewed worries of a revival plan for the company. This is the lowest level ever the stock has hit as investors remain worried that the increased delay in revival would ensure that debt mounts, which could lead to virtual bankruptcy of the airlines.

The Kingfisher Airlines stocks hit a 52-week high in December last year as hopes grew of a recovery and on rumours that Etihad was keen to pick a stake in the company.

However, over the last few months the problems at the company have aggravated with staff not receiving salaries and banks even asking the company to sell-off assets to clear dues.

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Story first published: Tuesday, April 16, 2013, 10:24 [IST]
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