United Spirits has rallied nearly 5% to Rs 2,275 after the foreign fund house Morgan Stanley Asia purchased nearly 1% stake in the company for an estimated Rs 229 crore through open market transaction.
According to information available with stock exchanges, Morgan Stanley Asia (Singapore) Pte bought 1.08 million shares, amounting to 0.74% stake, of United Spirits through bulk deal on NSE.
The shares were purchased on an average price of Rs 2,118.23 valuing the transaction to Rs 228.79 crore, data showed. However, the seller of the shares could not be ascertained.
The stock opened at Rs 2,200 and hit a high of Rs 2,286 on NSE. A combined 591,629 shares have changed hands on the counter till 1019 hours on NSE and BSE.
Meanwhile, the other breweries and distilleries stocks such as Globus Spirits (up 18% to Rs 102), GM Breweries (up 7% at Rs 62.45), United Breweries (up 4% at Rs 752) and Tilaknagar Industries (up 3% at Rs 49.45) are also trading higher on the bourses.
According to information available with stock exchanges, Morgan Stanley Asia (Singapore) Pte bought 1.08 million shares, amounting to 0.74% stake, of United Spirits through bulk deal on NSE.
The shares were purchased on an average price of Rs 2,118.23 valuing the transaction to Rs 228.79 crore, data showed. However, the seller of the shares could not be ascertained.
The stock opened at Rs 2,200 and hit a high of Rs 2,286 on NSE. A combined 591,629 shares have changed hands on the counter till 1019 hours on NSE and BSE.
Meanwhile, the other breweries and distilleries stocks such as Globus Spirits (up 18% to Rs 102), GM Breweries (up 7% at Rs 62.45), United Breweries (up 4% at Rs 752) and Tilaknagar Industries (up 3% at Rs 49.45) are also trading higher on the bourses.