Kingfisher Airlines to consider preferential issue on Nov 25, 2010

Kingfisher Airlines Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 25, 2010, inter alia, to consider issue of convertible and/or redeemable securities to the consortium of lenders (pursuant to a debt recast package), the promoters / promoter group of Kingfisher Airlines Ltd., their PACs and/or other investors.

The stock was trading at Rs.73.20, down by Rs.5.20 or 6.63%. The stock hit an intraday high of Rs.78.75 and low of Rs.72.20.

The total traded quantity was 16.89 lakhs compared to 2 week average of 22.47 lakhs.

Source : Equity Bulls

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