United Breweries is trading higher by 2% at Rs 793 after the Dutch liquor giant Heineken hiked its stake in the company by over one percentage point through an open market transaction.
Heineken International bought 3.55 million shares, or 1.37% stake, in United Breweries at an average price of Rs 773 per share through a bulk deal on Tuesday, according to NSE data.
The Dutch beer maker bought the stake from Citicorp Finance. Citi is believed to have sold shares pledged with it for a loan taken by the UB group promoters.
The stock opened at Rs 800 and touched high of Rs 813 in early morning deals on the NSE. A combined around 340,000 shares have changed hands on the counter so far on the NSE and BSE.
Heineken International bought 3.55 million shares, or 1.37% stake, in United Breweries at an average price of Rs 773 per share through a bulk deal on Tuesday, according to NSE data.
The Dutch beer maker bought the stake from Citicorp Finance. Citi is believed to have sold shares pledged with it for a loan taken by the UB group promoters.
The stock opened at Rs 800 and touched high of Rs 813 in early morning deals on the NSE. A combined around 340,000 shares have changed hands on the counter so far on the NSE and BSE.