Shares of Vijay Mallya-led UB Group companies have tanked more than 5% each on back of heavy volumes in late noon deals after the lenders to Kingfisher Airlines decided to take initial steps towards recovering Rs 7,500 crore outstanding loans from the company.
United Breweries Holdings, United Breweries, United Spirits, McDowell Holdings and Kingfisher Airlines have plunged between 5-10% on the Bombay Stock Exchange (BSE).
The move includes sale of pledged assets and invoking promoter Vijay Mallya’s personal guarantees. The decision was taken at a meeting attended by the consortium of lenders and the airline's management, the media report suggests.
Among the individual stocks, United Breweries Holdings and Kingfisher Airlines have locked in lower circuit of 10% and 5% at Rs 70.25 and Rs 10.58 respectively, with no buyers on the counter.
United Breweries has tanked 10% to Rs 637 with over two-fold jump in trading volumes. A combined 1.61 million shares have changed hands on the counter so far on BSE and NSE.
McDowell Holdings has dipped 9% to Rs 59 and United Spirits by 6.3% at Rs 1,850.
United Breweries Holdings, United Breweries, United Spirits, McDowell Holdings and Kingfisher Airlines have plunged between 5-10% on the Bombay Stock Exchange (BSE).
The move includes sale of pledged assets and invoking promoter Vijay Mallya’s personal guarantees. The decision was taken at a meeting attended by the consortium of lenders and the airline's management, the media report suggests.
Among the individual stocks, United Breweries Holdings and Kingfisher Airlines have locked in lower circuit of 10% and 5% at Rs 70.25 and Rs 10.58 respectively, with no buyers on the counter.
United Breweries has tanked 10% to Rs 637 with over two-fold jump in trading volumes. A combined 1.61 million shares have changed hands on the counter so far on BSE and NSE.
McDowell Holdings has dipped 9% to Rs 59 and United Spirits by 6.3% at Rs 1,850.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%