United Spirits soars over 6 pc after Mallya quits as chairman

February 26, 2016 12:54

Shares of United Spirits surged over 6 per cent today after Vijay Mallya quit as chairman of the company following an agreement with its majority owner, Diageo.

Under the agreement, the UK-based company agreed to pay Rs 515 crore and absolve him from all the liabilities over alleged financial lapses at the firm founded by his family.

The stock after a positive opening jumped 6.4 per cent to Rs 2,835.30 on BSE.

On NSE, it climbed 6.28 per cent to Rs 2,833.

Mallya, who along with his group firms, who is fighting the 'wilful defaulter' tag in relation to loans taken by the long-defunct Kingfisher Airlines, said he would now "spend more time in England" closer to his children.

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