Uphill Task For Diageo: IDFC Sec
  • Prabha Hedge
  • Dec 23 2013

December 23: United Spirits’ stock plunged as much as 6% today after the Karnataka High Court annulled UBHL’s sale of its stake in United Spirits to Diageo. The HC order has come in response to a winding-up petition filed by creditors against UBHL for dues of about Rs.600 crore, which is pertaining to Kingfisher Airlines. Bloomberg TV India speaks to IDFC Securities’ Nikhil Vora to decipher what this order means for Diageo.