Future Retail leads gainers in 'A' group

United Spirits, Pipavav Defence and Offshore Engineering Company, Tata Communications and TCS are among the other gainers.

Organised retailer Future Retail jumped 18.32% to Rs 100.10. The stock topped the gainers in the BSE's 'A' group.

Liquor maker United Spirits (USL) galloped 11.58% to Rs 2,853.15 after Diageo plc, the world's largest alcoholic beverages company, announced an open offer to the public shareholders of the company. The stock was second biggest gainer in 'A' group.

Diageo Plc has launched a second round of open offer to the shareholders of USL. The offer is for acquiring up to 3.77 crore fully paid up equity shares of face value of Rs 10 each, constituting 26% of the total fully diluted voting equity share capital of USL. The tender offer will be at a price of Rs 3,030 per share and the total consideration for the increased stake (assuming take-up in full at the announced price) will be Rs 11448.92 crore. Diageo has launched the tender offer through Relay BV (Relay), a wholly-owned indirect subsidiary of Diageo. United Spirits made the announcement before trading hours today, 15 April 2014.

Diageo already owns 28.78% of the company through Relay BV and intends to take its holding in USL to 54.78% through this open offer.

Ship builder Pipavav Defence and Offshore Engineering Company spurted 4.84% to Rs 45.45. The stock was third biggest gainer in 'A' group.

Telecommunications company Tata Communications climbed 4.38% to Rs 311.90. The stock was fourth biggest gainer in 'A' group.

IT major TCS rose 4.06% to Rs 2,251.55. The stock was fifth biggest gainer in 'A' group. The company announced on Monday, 14 April 2014, that it launched iElect - a gamified app on the Android platform that generates social insights about India's General Elections in 2014.

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