Mangalore Chemicals stock rises 9.38% as Vijay Mallya resigns from board

Kingfisher Airlines promoter Vijay Mallya has resigned as a director on the board of directors of Mangalore Chemicals & Fertilizers Ltd.

Mangalore Chemicals & Fertilizers said on Monday that Dr Vijay Mallya , a Director on the Board of Directors of the Company, has resigned with immediate effect.

Reacting to the news, the stock of the company rose 16 per cent to Rs 94.70 on the BSE. It stock closed 9.39 per cent higher at Rs 89.25