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| United Spirits ends down 2% |
| PTI/BS Reporter / Mumbai Aug 26, 2009, 16:03 IST |
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The stock managed to erase some of its losses and ended the day at Rs 912, down 2% from the previous close. Around 506,535 shares were traded on the BSE as compared to the two-week daily average traded volumes of 155,677 shares.
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(Updated at 1603hrs)
Liquor manufacturer United Spirits today dipped nearly 5% the early morning trade on the Bombay Stock Exchange, a day after world's largest alcohol player Diageo's protracted efforts for a pie in Vijay Mallya's group firm failed.
Shares of United Spirits dipped 5% a low of Rs 885 on the BSE, while it slipped 5% to Rs 881 on the National Stock Exchange.
Yesterday, the British firm's efforts to buy a 15% stake in United Spirits came to an abrupt end. The two firms were in talks since early this year for the sale of USL's treasury stock created by amalgamation and demergers, which are not traded on exchanges.
The deal would have added global brands like Johnnie Walker Black Label and Smirnoff to the USL stable, which already has McDowell's No 1, Romanov, Royal Challenge and Black Dog in its portfolio.
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