India's Kingfisher shares rise after block deals
Oct 11 (Reuters) - Shares in India's Kingfisher Airlines , grounded since the start of the month, rose as much as 4.8 percent, after data showed a series of block deals on Thursday.
About 2.6 million Kingfisher shares changed hands on the Bombay Stock Exchange, minutes before the close of the market trade, Thomson Reuters data showed. The identity of the buyers or sellers was not immediately clear.
Kingfisher shares listed on the bigger National Stock Exchange surged as traders reacted to the news, but finished up 0.4 percent on the day. The BSE-listed shares closed flat at 11.45 rupees.
Kingfisher has so far failed in its long-running search for an investor and is $2.5 billion in debt by one estimate. The carrier has grounded its fleet since Oct. 1 after an employee protest turned violent.
(Reporting by Mumbai Newsroom; Editing by Subhranshu Sahu)
Keywords: KINGFISHER SHARES/