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.
Trending On Reuters
State Bank of India, the nation's top lender by assets, reported a better-than-expected 23 percent increase in quarterly profit and a lower bad loan ratio, sending its shares more than 5 percent higher. Full Article | Full Coverage
Gold demand slows as China eyes equities; lack of weddings in India weighs Full Article