Despite weak market conditions, United Spirits (USL) on Thursday closed 3 per cent higher at Rs 1,353.50 on reports that Japanese spirits maker Suntory is keen on buying a 10-15 per cent stake in the company. At the current market price, the 15 per cent stake in USL would be worth around $450 million.
USL is already in preliminary talks with multinational drinks giants like Diageo, Pernod Ricard and Bacardi for a stake sale. After opening about 2 per cent higher at Rs 1,338.50, the stock hit an intraday high of Rs 1,408.50 and a low of Rs 1,335.
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