Shaw Wallace Fizzes On Sab Scuttlebutt

Stocks of Shaw Wallace, the liquor company, rose today on reports that South African Breweries (SAB) might pick a 50 per cent stake in the company.

The scrip rose 13.7 per cent to Rs 31.95, off the intra-day high of Rs 33. The counter clocked volumes of 12,041 shares on the BSE. The scrip has gained more than 19 per cent so far this month. Shaw Wallace, owner of popular beer brands such as Haywards, Royal Challenge among others, commands a 28 per cent share of the beer market.

The promoters, the Chhabria family hold around 54 per cent in the company. Twenty-five per cent is in the hands of financial institutions, while the remaining is with the public.