Stake sale: Mallya group stocks in focus

Stocks of United Spirits, Kingfisher Airlines, Mangalore Chemicals and Fertiliser will continue to attract market action as talk of UB Group chairman Vijay Mallya contemplating offloading shares in some his companies has reappeared. It may be recalled that a few years ago, Diageo, which owns brands such as Johnnie Walker whiskey and Smirnoff vodka, had offered to buy a stake in United Spirits at about Rs 850 a share (latest share price: Rs 938.55), when Mallya and UB Holdings held about 51 per cent stake in the company. MCF is now also being considered a possible candidate for sale to revive the airline’s fortunes. Speculation has rife in the last few weeks on an imminent stake sale that kept Mallya-controlled companies’ shares on a high spirit at the bourses.