Shares of Vijay Mallya led UB Group companies such as United Spirits, United Breweries Holdings, United Breweries and Kingfisher Airlines are under pressure and trading lower by 3-7% on the Bombay Stock Exchange (BSE).
United Spirits, the largest loser among UB Group pack, has dipped 7% to Rs 1,171 after foreign fund house sold part of its holding in the company for Rs 82 crore through open market transaction.
Credit Suisse (Singapore) offloaded 654,000 shares of the company for Rs 1,254.26 apiece valuing the deal to Rs 82.09 crore on Friday, according to the bulk data available with the National Stock Exchange. However, the buyer of the shares could not be ascertained. Meanwhile, the foreign brokerage house CLSA has downgraded the stock from ‘under perform’ to ‘sell”.
Kingfisher Airlines has locked in lower circuit of 5% at Rs 12.60 after the Directorate General of Civil Aviation (DGCA) issued show cause notice to the airline asking why its permit to fly should not be suspended or cancelled, and gave it 15 days to reply. The stock tanked over 25% in past six trading sessions from Rs 16.96 on September 27.
United Breweries Holdings is trading lower by 6% at Rs 137, while United Breweries by 3% at Rs 660 on the BSE.