Kingfisher Airlines shares are locked at 10 percent upper circuit after founder Vijay Mallya, in company's annual general meeting, says the airline company has submitted three revival plans to Directorate General of Civil Aviation (DGCA).
The Karnataka High Court (HC) on Tuesday gave a breather to Vijay Mallya after it kept its summons in abeyance till the audit report of the USL-Diageo deal is submitted.
Shares in United Breweries Holdings Ltd jump 9.9 percent after CNBC-TV18 and ET Now reported the Karnataka High Court has allowed UBHL to sell its shares in group company United Spirits to Diageo Plc to complete the long-pending deal.
CNBC-TV18's Vineetha Athrey spoke to several sources and presents a round-up of all the legal action regarding the UB group's repayment of loans and the decision of the Karnataka High Court.
Auditors of UBHL, the holding company of Vijay Mallya-led UB Group, have raised concerns over its significant financial exposure of Rs 13,500 crore to the grounded carrier Kingfisher Airlines.
Leading bourse BSE has halved its circuit limit for the shares of United Breweries Holdings Ltd, capping its maximum movement in a day at 5 per cent. The change is effective from today and follows a sharp rally in the share price of the company in past few days.