Shares of Vijay Mallya promoted UB Group companies are under pressure in morning trades on reports that the market regulator - Securities and Exchange Board of India (SebI) is seeking data of the group companies to verify insider trading.
Among the individual stocks, United Breweries Holdings has tanked 5% at Rs 127 on the Bombay Stock Exchange. Kingfisher Airlines too, down 5% at Rs 10.90, while United Breweries and United Sprits are down by 3% each at Rs 660 and Rs 1,230 respectively.
“Sebi is looking into whether there has been any insider trading in group companies. It has asked the company for a chronology of events relating to the reported stake sale to Diageo plc,” the media report suggests.
