UB Group shares tank on heavy volumes
United Breweries Holdings, United Breweries, United Spirits, McDowell Holdings and Kingfisher Airlines have plunged between 5-10% on BSE.
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.