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Vijay Mallya's UB Group shares lose up to 76% market capitalisation in 2013

Sep 15 2013, 19:14 IST
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Vijay Mallya last week said at holding company UBHL's Annual General Meeting that the group was in firm control of Mangalore Chemicals and talks were on with potential investors for revival of Kingfisher. Vijay Mallya last week said at holding company UBHL's Annual General Meeting that the group was in firm control of Mangalore Chemicals and talks were on with potential investors for revival of Kingfisher.
SummaryKingfisher Airlines' share price has plunged 69%; McDowell Holdings share price fell by 72%.

UB Group Chairman Vijay Mallya may be confident of 'good times' ahead for his various businesses, but the market capitalisation of at least five group companies have fallen by up to 76 per cent so far in 2013.

An analysis of share price performance of UB group companies shows that the holding firm United Breweries (Holdings) Ltd has seen its market value plunge by 76 per cent to Rs 27.7 currently, from Rs 115.85 as on December 31, 2012.

During the same period, Kingfisher Airlines Ltd' share price has plummeted by about 69 per cent from nearly Rs 15 to Rs 4.67, as the airline has remained grounded for almost a year.

The market value loss for UB Engineering Ltd, a relatively smaller company, has also been similar at about 69 per cent from Rs 37.5 to Rs 11.49 a share, while McDowell Holdings has seen its share price fall by 72 per cent from Rs 75.45 to Rs 21.45.

The loss has been smallest for United Breweries Ltd at about 7 per cent from Rs 931.2 at the end of 2012 to Rs 863.90 at the end of last trading session on September 13, 2013.

United Spirits Ltd, Mangalore Chemicals & Fertilizers and Pioneer Distilleries have seen their share prices actually rise during this time period.

However, the gains for two of these firms -- United Spirits and Pioneer Distilleries -- have been on the back of global liquor major Diageo acquiring shares, while Mangalore Chemicals has seen two of its rivals buying significant chunks of stakes from the open market.

Mangalore Chemicals' share price has appreciated by about 45 per cent so far in 2013, while gains for United Spirits and Pioneer Distilleries have been 33 per cent and 12 per cent, respectively.

The market benchmark index BSE Sensex has remained largely flat with a gain of 0.77 per cent for this period.

Striking a confident note about the fortunes of his group companies, Mallya last week said at holding company UBHL's Annual General Meeting that the group was in firm control of Mangalore Chemicals and talks were on with potential investors for revival of Kingfisher.

The crisis-hit airline's permit to fly was suspended last year, while it had accumulated losses of over Rs 16,000 crore as on March 31, 2013. It has

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