United Spirits scales record high

Meanwhile, the S&P BSE Sensex was up 81.50 points or 0.42% at 19,406.27.

On BSE, 1.26 lakh shares were traded in the counter as against average daily volume of 3.36 lakh shares in the past one quarter.

The stock hit a high of Rs 2,630 so far during the day, which is a record high for the counter. The stock hit a low of Rs 2,568 so far during the day. The stock had hit a 52-week low of Rs 697.45 on 30 July 2012.

The stock had outperformed the market over the past one month till 8 July 2013, rising 3.54% compared with the Sensex's 0.54% fall. The scrip had also outperformed the market in past one quarter, surging 42.88% as against Sensex's 4.81% rise.

The large-cap company has equity capital of Rs 145.33 crore. Face value per share is Rs 10.

United Spirits (USL) on 4 July 2013 said that Diageo has completed the acquisition of a 14.98% stake in USL at Rs 1,440 per share. The shares were bought from United Breweries (Holdings) and other UB group companies. Following the acquisition of additional 14.98% stake, Diageo now holds 25.02% stake in USL. Diageo and the UB Group are now co-promoters of USL. In a statement, Diageo said that its 25.02% shareholding in USL, together with the voting and other governance arrangements agreed with the UB group, including Dr. Vijay Mallya's continued role as Chairman of USL, will give Diageo control and enable Diageo to fully reflect the results of USL in its consolidated accounts, which it expects to do from 1 January 2014. Prior to this, Diageo will equity account its shareholding in USL, Diageo said.

On 27 May 2013, Diageo subscribed for a preferential allotment of new shares in USL amounting to 10% of the post-issue enlarged share capital. Separately, Diageo acquired 58,668 additional USL shares via a mandatory open offer to the shareholders of USL.

United Spirits' net profit jumped 459.4% to Rs 56 crore on 10.5% growth in net sales to Rs 2057.69 crore in Q4 March 2013 over Q4 March 2012.

United Spirits has twenty-one liquor brands in its portfolio.

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