United Spirits moves up on the bourses

United Spirits is currently trading at Rs. 2860.35, up by 7.20 points or 0.25% from its previous closing of Rs. 2853.15 on the BSE. The scrip opened at Rs. 2875.00 and has touched a high and low of Rs. 2877.00 and Rs. 2855.05 respectively. So far 22311 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2940.55 on 15-Apr-2014 and a 52 week low of Rs. 1976.80 on 16-Apr-2013. Last one week high and low of the scrip stood at Rs. 2940.55 and Rs. 2537.35 respectively. The current market cap of the company is Rs. 41592.07 crore. The promoters holding in the company stood at 38.62 % while Institutions and Non-Institutions held 44.11 % and 16.74 % respectively. The London-headquartered Diageo Plc has re-launched a bid and offered to pay $1.9 billion for an additional 26 per cent stake in Bangalore-based United Spirits (USL). The open offer is expected to open on June 11 this year and close on June 24. The move, the company’s second attempt to extend its reach in the world’s largest whisky market, is expected to further strengthen the yields for the global investors of Diageo, best known for its Johnnie Walker scotch whisky. If successful, Diageo would end up with 54.8 per cent of India's largest spirits maker, which was previously controlled by tycoon Vijay Mallya, who has shed assets under heavy debt and the collapse of his Kingfisher Airlines. United Spirits is the largest spirits company in India and a flagship entity of $2 billion UB group. It manufactures wide range of whisky, vodka, rum and other spirits.