Mumbai: Shares of industrialist Vijay Mallya-promoted UB Group firms saw hectic activity on Monday, thanks to strong market speculations. In fact, Kingfisher Airlines soared 20% on the Bombay Stock Exchange (BSE) despite the company posting a loss of above Rs 600 crore for the June quarter. The surge in the stock price comes amid reports that the ailing airline could soon see fund infusion by a promoter. The stock took a 19% hit in last week's trade.
Another group firm, United Spirits, rose 12% to Rs 924 (14:51 pm) on market buzz that the firm is likely to sell stake to strategic investors to cut debt. It is widely speculated that the company would be selling stake to UK-based Diageo, the world's largest spirits company by value.
Also, United Breweries jumped on reports the firm is looking to sell stake. Speaking of its current finances, the company's quarterly volume growth was back above 10 per cent, a reason enough to cheer investors. The stock was up 9.94% at Rs 571.30 (14:51 pm).
United Breweries Holding also saw hectic activity at its counter, with the stock surging 13 per cent at Rs 97.15 (14:50 pm).
Another group firm, United Spirits, rose 12% to Rs 924 (14:51 pm) on market buzz that the firm is likely to sell stake to strategic investors to cut debt. It is widely speculated that the company would be selling stake to UK-based Diageo, the world's largest spirits company by value.
Also, United Breweries jumped on reports the firm is looking to sell stake. Speaking of its current finances, the company's quarterly volume growth was back above 10 per cent, a reason enough to cheer investors. The stock was up 9.94% at Rs 571.30 (14:51 pm).
United Breweries Holding also saw hectic activity at its counter, with the stock surging 13 per cent at Rs 97.15 (14:50 pm).
