Who is buying defunct Kingfisher Airlines' shares on the bourses?

MUMBAI: The prospects of the defunct Kingfisher AirlinesBSE 4.91 % making a comeback seem remote with the government cancelling its licence and lenders declaring founder Vijay Mallya a wilful defaulter. But, some on Dalal Street appear to be hoping otherwise. In the last couple of months, the market capitalisation of Kingfisher has jumped 40% to Rs 131 crore.

The stock rose 4.9% to Rs 1.71 on Monday. Kingfisher shares are actively traded every Monday — the only day in the week when the stock is allowed to be transacted. Kingfisher was suspended from trading by stock exchanges for violation of listing agreement including non-disclosure of shareholding pattern or results. But exchange sources said Kingfisher Airlines shares were allowed to trade once a week as regulations provide for a six-month trading window to suspended companies.

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