Shares of Vijay Mallya promoted UB Group companies are in limelight, with most of them trading higher by 2-17% in otherwise weak market in morning trades on the National Stock Exchange. Reports suggest that the Bangalore-based alcoholic beverages conglomerate is undertaking a major debt restructuring through sale of assets.
According to market buzz, the Mukesh Ambani-owned Reliance Industries may be close to buying the ailing Kingfisher Airlines.
“Reliance would also get Mangalore Chemicals and Fertilizers Ltd, in which the UB group has a 30.44% stake, as part of the deal," the report suggests.
Among the individual stocks Mangalore Chemicals and Fertilisers has zoomed 17% to Rs 46.35, followed by McDowell Holdings (up 10%), Kingfisher Airlines (up 9%), United Breweries Holdings (up 7%), United Spirits (up 3%) and United Breweries (up 2%).
