<p>Defying an uptrend in the stock market, shares of Kingfisher Airlines today fell by over three per cent, as Finance Minister Pranab Mukherjee said that state-run lender SBI has no plans to provide any fresh loan to the cash-strapped air carrier.<br /><br /></p>.<p>Kingfisher shares closed for the day 3.05 per cent down at Rs 20.65 on the BSE. During the day, the stock had lost about 4 per cent and touched a a low of Rs 20.50.<br /><br />On the NSE, the stock ended at Rs 20.70, down 2.59 per cent from the previous close.<br /><br />The plunge in Kingfisher shares was in sharp contrast to an overall uptrend in the market, where the BSE barometer Sensex ended at 17,813.62, up 225.95 points.<br /><br />The stocks of other air carriers, Jet Airways and SpiceJet also soared higher today with gains of 7.64 per cent and 6.74 per cent, respectively.<br /><br />"SBI has informed that currently there is no such plan to provide additional loan to Kingfisher Airlines," Mukherjee informed the Rajya Sabha, while replying to a question as to whether SBI has initiated a proposal to bail out the airline by sanctioning fresh loan of Rs 1,500 crore.<br /><br />Kingfisher Airlines, part of Vijay Mallya-led UB Group, has accumulated a huge debt and its operations have also been affected badly in recent months.<br /><br />Speaking to reporters in the national capital, Mallya said: "We are facing a serious handicap as our accounts are frozen. We are not asking for bailout from the government but hope for help from banking sector to de-freeze our accounts."</p>
<p>Defying an uptrend in the stock market, shares of Kingfisher Airlines today fell by over three per cent, as Finance Minister Pranab Mukherjee said that state-run lender SBI has no plans to provide any fresh loan to the cash-strapped air carrier.<br /><br /></p>.<p>Kingfisher shares closed for the day 3.05 per cent down at Rs 20.65 on the BSE. During the day, the stock had lost about 4 per cent and touched a a low of Rs 20.50.<br /><br />On the NSE, the stock ended at Rs 20.70, down 2.59 per cent from the previous close.<br /><br />The plunge in Kingfisher shares was in sharp contrast to an overall uptrend in the market, where the BSE barometer Sensex ended at 17,813.62, up 225.95 points.<br /><br />The stocks of other air carriers, Jet Airways and SpiceJet also soared higher today with gains of 7.64 per cent and 6.74 per cent, respectively.<br /><br />"SBI has informed that currently there is no such plan to provide additional loan to Kingfisher Airlines," Mukherjee informed the Rajya Sabha, while replying to a question as to whether SBI has initiated a proposal to bail out the airline by sanctioning fresh loan of Rs 1,500 crore.<br /><br />Kingfisher Airlines, part of Vijay Mallya-led UB Group, has accumulated a huge debt and its operations have also been affected badly in recent months.<br /><br />Speaking to reporters in the national capital, Mallya said: "We are facing a serious handicap as our accounts are frozen. We are not asking for bailout from the government but hope for help from banking sector to de-freeze our accounts."</p>