Reuters Market Eye - Shares in Kingfisher Airlines(KING.NS) rise 1.5 percent after The Economic Times newspaper reported Blackstone(BX.N) has made an offer to buy prime office and retail real estate property from investment holding company UB Holdings, citing two people familiar with the developments.
A spokeswoman for Blackstone declined to comment on the report calling it "a pure speculation story." A UB Group spokesman also declined comment.
Nonetheless, dealers say the media report about a potential deal is raising hopes billionaire Vijay Mallya, who controls Kingfisher and UB Holdings, could use any money raised to inject into the debt-laden carrier.
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With the Nifty breaching 8,500, sentiments are again bullish. But markets have been in the 8,200-8,600 range for some time and stocks across the board do not give the required confidence except for the liquidity factor. Many frontline stocks are not participating on the upside and the core sector is in a downtrend, writes Ambareesh Baliga. Column