Millennium Post

Mallya’s exit brings fizz to group stocks

In an irony of sorts, self-proclaimed ‘King of Good Times’ Vijay Mallya on Tuesday saw shares of his various group companies soar higher even as fresh troubles surfaced in form of the group’s holding entity being slapped with yet another ‘wilful defaulter’ tag.

This came a day after Mallya having to quit top posts at two group companies— Mangalore Chemicals & Fertilisers Ltd and long-grounded Kingfisher Airlines. Analysts say that investors might be seeing the developments as a beginning of the endgame for Mallya, who no more has controlling stakes in USL and UBL and exited MCFL as director.

Next Story
Share it