 "United Spirits pare early gains to fall 6%")
United Spirits was up 1% at Rs 2,104, falling nearly 6% from its early morning high on the BSE after the company said that it is not aware about the promoter Diageo Plc is considering increasing its stake in the company.
“As and when any material development takes place that warrants disclosure, we will ensure we keep the stock exchanges informed the same,” the company said in a clarification with reference to news appeared in Business Line dated January 18, 2017 quoting "Diageo mulls raising stake in United Spirits via open offer."
We are also not aware of the exact reasons for the recent share price movement, it added.
The stock rallied 7% to Rs 2,132 in early morning trade, extended its Tuesday’s over 5% surge on the BSE. The S&P BSE Sensex was down 0.11% in past two trading sessions.
It hit a low of Rs 2,081 in intra-day so far. A combined 2.6 million shares changed hands on the counter on the BSE and NSE till 03:04 pm.
“As and when any material development takes place that warrants disclosure, we will ensure we keep the stock exchanges informed the same,” the company said in a clarification with reference to news appeared in Business Line dated January 18, 2017 quoting "Diageo mulls raising stake in United Spirits via open offer."
We are also not aware of the exact reasons for the recent share price movement, it added.
The stock rallied 7% to Rs 2,132 in early morning trade, extended its Tuesday’s over 5% surge on the BSE. The S&P BSE Sensex was down 0.11% in past two trading sessions.
It hit a low of Rs 2,081 in intra-day so far. A combined 2.6 million shares changed hands on the counter on the BSE and NSE till 03:04 pm.
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