Kingfisher Airlines surges 13% on stake sale talk

MUMBAI: Vijjay Mallya's Kingfisher Airlines shares surged more than 13 per cent on Monday on news that the company is holding exploratory talks with international carriers for diluting up to 25 per cent stake. The move comes on hopes the government may allow foreign airlines to invest in domestic carriers.

At 10:38 am on BSE, the shares were trading higher by 13.26 per cent at Rs 29.90.

Kingfisher is believed to be discussing stake sale to British Airways, Singapore Airlines and Virgin Atlantic.

An analyst tracking the aviation sector said, ���Seeing Mallya's track record, strong cash flow of the group and this low level, a strategic investment is expected to fetch better valuation���.