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UB group stocks surge up to 20% on Diageo stake buy talks

Group holding firm UBHL scrip settled for the day at Rs 132.45, up 19.97 percent, while United Spirits soared 8.89 percent to close at Rs 1,147.70 on the BSE.



Mumbai: Shares of UB group firms, led by UBHL (United Breweries Holdings Ltd), Tuesday surged as much as 20 percent after United Spirits said UK-based Diageo Plc is in talks to buy stake in the Vijay Mallya owned firm.

Group holding firm UBHL scrip settled for the day at Rs 132.45, up 19.97 percent, while United Spirits soared 8.89 percent to close at Rs 1,147.70 on the BSE.

Among others, shares of McDowell Holdings climbed 9.95 percent, United Breweries scrip rose by 7.02 percent and Mangalore Chemicals & Fertilizers (12.34 percent).

Besides, Kingfisher Airlines surged 8.08 percent and UB Engineering shot-up by 15.70 percent.

"United Spirits and Diageo Plc confirm that the UK-based company is in discussion with it and United Breweries Holdings in respect of possible transactions to acquire an interest in the liquor firm," United Spirits said in a BSE filing.

It added, "However, there is no certainty that these discussions will lead to a transaction".

The company is also holding its 13th Annual General Meeting (AGM) today.

The UB group is the promoter of USL with a 28 percent stake.

PTI

From Zee News

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