Before Mallya, the chairman of UB Group, left the country; the UB Group had performed excellent on the stock exchange when the chairman submitted a proposal for repayment to a bank consortium. The stocks of UB Group increased that day in March 2016 up to 15%. Many daughter companies of the conglomerate also saw their value go up higher on the stock market, at least up to 2%.
Unfortunately, in the same month, only a few days later, it was announced that Mallya had left the country which led the stocks to drop tremendously. Now, we have 2017, and Mallya is still not back, but he was arrested in Britain several days ago. Will the stocks continue to suffer or is there a cure in sight for the AB Group?