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Vijay Mallya, the chairman of UB Group who is battling to douse many a fire across his various of group companies, has managed to claw back close to a percent stake in one of his companies - Mangalore Chemicals & Fertilisers.
Mallya earlier this week through one of his holding companies has increased his stake in MCF by close to a percent by buying from the public markets from the earlier little over 20% by forking out Rs 7.6 crore.
This clawing back of stake in MCF gains significance even as Pune-based Deepak Fertilizers and Kolkata-based Zuari Group have been jostling to gain control over this company and had recently acquired 24% and 16% stake respectively.
Parallely, Mallya has also increased his stake marginally in another of his publicly held companies - McDowell Holdings - as well.
