For the beleaguered Kingfisher Airlines, controlled by billionaire Vijay Mallya , shocks seem to be a routine affair.

The latest shocker is its share prices tumbling to an all-time low of Rs 9. What are penny stocks? The stock fell after LKP Finance disclosed it had sold shares of the carrier in the open market while the Sensex, which had ended flat, led to the share fall as well. LKP Finance, in its disclosure to the exchanges, said that it has further offloaded its stake and pared its holding to below 10 per cent.

Should I Buy Kingfisher? -- The Motley Fool

As of June 30, the non-banking finance company had a LKP Finance had bought the shares not as a shareholder but to recover its loans and this offloading is the logical way to recover the amount. The selling, which has been happening for the last few weeks, is the reason for the fall in Kingfisher's share prices," Kishore P. Ostwal, chairman and managing director, CNI Research, said.

Small Cap Leader - Free NASDAQ Stock Picks and Small Cap Stocks

For this, however, the government has to relax foreign direct investment FDI norms," Ostwal added. On Tuesday, the carrier's share prices closed a tad higher at Rs 9.

On both the trading days, the share price closed below the face value of Rs 10 per share. In comparison, the stock price was at a week high of Rs The crisis at Kingfisher Airlines With Tuesday's closing price, the carrier's market cap stands at Rs crore.

Shares and stock tips: buy Kingfisher and SIG - Telegraph

The company and the stocks have reached a logical conclusion as this was one of the businesses that was done without proper homework," Jagannadham Thunuguntla, strategist and head research , SMC Global Securities, said.

The carrier owes lenders, led by the State Bank of India SBI , a whopping Rs 7, crore. The majority chunk of Rs 1, crore has been borrowed from SBI. Kingfisher, which has never posted profit since inception, is under immense pressure from lenders to work out a turnaround plan.

The carrier, which had reported a loss of Rs 1, crore and revenue of Rs Once the second-rung carrier among major carriers , Kingfisher now ranks last after it was forced to ground most of its fleet. The promoters' holding has also fallen by Kingfisher Airlines Vijay Mallya Kingfisher Airlines shares. Previous Story Tata Coffee scrip gains on Q1 result.

Next Story BSE Sensex closes 94 points higher. Institutions' autonomy hinges on academic quality: Niti AIBOC asks govt to expedite appointments on PSB boards Wipro flags cybersecurity breaches as potential risk to business Two IPOs to hit market this week, eye Rs 1, cr India ready for GST, anti-profiteering rules soon: Reliance Jio Prime vs Airtel, Vodafone, Idea 4G offers Reliance Jio plans to bring 5G internet to your smartphones Maruti Suzuki opens online booking for Baleno RS India Inc to get 9.

Reliance Jio new offer: News You Can Use. These are the 9 most expensive residential areas in Delhi People in these countries pay a lot more taxes than Indians These are the world's top 10 women bankers More.

Govt makes Aadhaar mandatory for opening bank accounts. Here's how it could be misused How daily price revision of petrol and diesel will impact you Here's why GST would be a headache for the govt in early days More.

ECONOMY CORPORATE MARKETS MONEY INDUSTRY TECH OPINION PHOTOS VIDEOS MAGAZINE PROPERTY.