United Spirits turns volatile after resumption of operations at bottling unit

United Spirits lost 0.22% to Rs 2839.95 at 12:39 IST on BSE after the company said that the lock-out at its bottling unit at Palakkad in Kerala has been lifted and operations resumed at the said unit from Monday, 21 April 2014.

The announcement was made during trading hours today, 22 April 2014.

Meanwhile, the S&P BSE Sensex was up 34.37 points or 0.15% at 22,799.20.

On BSE, so far 13,000 shares were traded in the counter as against average daily volume of 1.52 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 0.27% at the day's low of Rs 2838.45 so far during the day. The stock rose as much as 0.66% at the day's high of Rs 2864.95 so far during the day. The stock had hit a 52-week low of Rs 1993.30 on 28 August 2013. The stock had hit a record high of Rs 2940.55 on 15 April 2014.

The stock had outperformed the market over the past one month till 21 April 2014, surging 7.49% compared with the Sensex's 4.65% rise. The scrip had, however, underperformed the market in past one quarter, advancing 4.79% as against Sensex's 7.12% rise.

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

United Spirits had on 12 November 2013 announced declaration of lock out in the company's bottling unit at Palakkad in Kerala. United Spirits said at that time that it does not expect the lock-out to have any material impact on the operations of the company.

United Spirits' net profit declined 19.4% to Rs 64.92 crore on 4.8% growth in net sales to Rs 2278.40 crore in Q3 December 2013 over Q3 December 2012.

United Spirits is the largest alcohol beverage company in India, having sold 123.70 million cases in the year ended 31 March 2013.

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