What is surprising is that a man like that not only survives but thrives. Maybe Lord Kukke Subrahamanium is open to striking “deals” with bankrupt businessmen.
Anyway, Vijay Mallya now has a wide smile on his face because all of his stocks have soared as much as by 58 per cent and heavily outperformed the Nifty.
Leading from the front was United Breweries Holdings Ltd which became a multibagger thanks to rumors that a bankrupt Vijay Mallya would have to sell a sizeable stake to Diagio to bail himself out of the financial mess. In just 3 months, United Breweries Holdings soared from Rs. 66 to Rs. 104, netting investors a handsome 58%.
United Spirits was a close second with a 47% increase in its stock price in just 3 months. There was also unconfirmed news that our own Rakesh Jhunjhunwala was heavily buying the United Spirits stock. United Spirits was quoting Rs. 659 three months back and closed yesterday at Rs. 968.
Mangalore Chemicals & Fertilizers surged 8% to give company to Vijay Mallya’s other stocks.
Kingfisher Airlines, whose obituary has already been written due to its Rs. 7,000 crores outstanding loans, took every one by surprise with a 52% surge in a week (from Rs. 8.82 to Rs. 13.45) and a 37% increase in a month.
Of course, it is ironical that Vijay Mallya’s bankruptcy and the permission for FDI in the Aviation sector should have created so much wealth for other investors. Vijay Mallya will, however, claim full credit for this. Such is the nature of the man.