Kingfisher and SpiceJet defy fall in Indian stocks
Shares in Kingfisher and SpiceJet soared 5.2% and 4.0% respectively yesterday, shrugging off a 68-point fall in the Bombay Sensex Index, which was dragged lower by profit taking. Gains were made by consumer durables stocks, while banking stocks were lower. Jet Airways gained 0.6%.
United Breweries (Holdings) stated yesterday that its members have approved the conversion of loans given by the company to Kingfisher Airlines into equity shares.