Shares of Vijay Mallya-led UB Group companies have rallied on the bourses in otherwise subdued market in morning trades on back of huge volumes.
United Breweries (Holdings), Kingfisher Airlines, United Spirits (USL) and United Breweries are trading higher by more than 5% each on the National Stock Exchange, compared to a marginal drop in the benchmark index Sensex at 0943 hours.
According to market reports the Diageo, the world's leading spirits, wine and beer firm is said to be in the running to pick up USL stake, as the UB Group is looking to sell stake in USL to repay debt.
Among the individual stocks, United Breweries (Holdings) has soared 20% to Rs 70.30, followed by United Breweries (up 9%), Kingfisher Airlines (up 7%) and United Spirits (up 6%) on the National Stock Exchange.
