 "United Spirits gains on exit of Vijay Mallya")
Shares of United Spirits has surged 6% to Rs 2,836 on the BSE in early morning trade after Vijay Mallya agreed to resign from his post of chairman and non-executive director of the company.
“United Spirits has entered into an agreement with Dr Vijay Mallya under which he has resigned with effect from February 25, 2016 from his position as Chairman and non-executive director of the company, and from his position as a director of Royal Challengers Sports Private Limited and Four Seasons Wines Limited,” United Spirits said in a statement.
Following Dr Mallya’s resignation, the board of directors of the company is pleased to announce that Mr Mahendra Kumar Sharma, Independent Director and Chairman of the Audit Committee, has been appointed as the Chairman of the board with effect from February 25, 2016, it added. CLICK HERE TO READ FULL REPORT.
Further, United Spirits has been included in the future & options (F&O) segment on the National Stock Exchange with effect from February 26, 2016.
Among the other individual stocks in which Vijay Mallya held stakes such as United Breweries (Holdings) has rallied 18% to Rs 21.90, while Mangalore Chemicals & Fertilisers soared 9% to Rs 44 and United Breweries up 1% at Rs 811 on the BSE in early morning trade.
“United Spirits has entered into an agreement with Dr Vijay Mallya under which he has resigned with effect from February 25, 2016 from his position as Chairman and non-executive director of the company, and from his position as a director of Royal Challengers Sports Private Limited and Four Seasons Wines Limited,” United Spirits said in a statement.
Following Dr Mallya’s resignation, the board of directors of the company is pleased to announce that Mr Mahendra Kumar Sharma, Independent Director and Chairman of the Audit Committee, has been appointed as the Chairman of the board with effect from February 25, 2016, it added. CLICK HERE TO READ FULL REPORT.
Further, United Spirits has been included in the future & options (F&O) segment on the National Stock Exchange with effect from February 26, 2016.
Among the other individual stocks in which Vijay Mallya held stakes such as United Breweries (Holdings) has rallied 18% to Rs 21.90, while Mangalore Chemicals & Fertilisers soared 9% to Rs 44 and United Breweries up 1% at Rs 811 on the BSE in early morning trade.