Kingfisher up on Vijay Mallya giving guarantee to lenders report

MUMBAI: Shares of Kingfisher Airlines surged higher on reports that its chairman Vijay Mallya gave Rs 5,904 crore guarantee to lenders for the airline’s loans and other liabilities in 2011-12.

According to a PTI report, while guarantees given by Mallya fell from Rs 6,156 crore in the previous year 2010-11, the guarantees provided by Kingfisher's holding and associate companies rose from Rs 8,863 crore to Rs 8,926 crore in this period.

At 12:00 pm, the stock was at Rs 9.67, up 5.57 per cent, on the BSE. It touched a high of Rs 10.09 and a low of Rs 9.05 in trade today.