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Dolly Khanna buys stake in Associates Alcohols in Q4; stock surges 12%

The stock hit a record high of Rs 340, up 12%, rallied 37% thus far in the month of April, as compared to 3% rise in the S&P BSE Sensex.

SI Reporter  |  Mumbai 

United Breweries, beer
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hit a new high of Rs 340, up 12% on the BSE, after the breweries & distilleries company said that Chennai-based value investor bought in the company during March

Dolly Khanna’s has purchased 187,279 equity shares representing 1.04% in in January-March 2018 quarter, according to latest shareholding pattern filed by the company with the exchanges.

As of December 2017, held nil holding in the company, the data shows.

Thus far in the month of April, the of rallied 37% from Rs 249, as compared to 3% rise in the S&P Sensex. In past one year, it zoomed 156% against 14% rise in the benchmark index.

Associated Alcohols & Breweries had reported a strong 62% year on year growth in its standalone net profit at Rs 206.46 million for the first nine months (April-December) of the financial year 2017-18 (FY18). It had profit of Rs 127.31 million during the same period of FY17.

The earnings before interest, tax, depreciation and amortization (EBITDA) margin had improved by 327 basis points to 17.25% in 9MFY18 from 13.98% in 9MFY17.

First Published: Wed, April 11 2018. 15:20 IST