United Breweries up on investment plan

DALAL STREET SPIKES

The stock gained 15 per cent to close at Rs 138.8. Earlier during the day, it had touched a high of Rs 145.1. Over 6.4 lakh shares were traded on the BSE.

The stock has appreciated 20 per cent in the last week and 15 per cent in the last one month. The latest surge has been on the back of the company's Rs 400 crore investment plan to raise the capacity in a phased manner.

There have also been reports that an American private equity firm has decided to sell the French sparkling wine maker, Bouvet-Ladubay to United Breweries. Earlier, the company had recommended a dividend of 7.5 per cent, over and above the interim dividend of 15 per cent.