Kingfisher shares up 5 pc as UB Group hikes loan limit

February 19, 2013 13:40

Shares of Kingfisher Airlines today surged as much as five per cent on the bourses in afternoon trade after its group holding firm United Breweries (Holdings) hiked its loan limit for the ailing carrier to Rs 750 crore from Rs 300 crore.

UB Holdings has sought approval from its shareholders to revise the lending limit for Kingfisher and to authorise its board of directors to take necessary actions in this regard, the company had said yesterday.

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