United Spirits hits 52 week high ahead of AGM

United Spirits advanced nearly 7% to hit a 52 week high at Rs 1,065 ahead of the annual general meeting which is being held this week.

Also, there are reports that global major Diageo eyeing a stake in United Spirits. It is understood that Diageo is willing to play ball only if it gets management control which Mallya is unlikely to accept that at this juncture.

“If Diageo gets to acquire a significant stake in United Spirits, it will be up against the European Union’s anti-monopoly body, which will most likely oppose the global leader in spirits getting to own Whyte & Mackay and creating a monopoly in the spirits markets,” industry analysts indicated.

Around 3.6 million shares of Unites Spirits were traded on BSE and NSE.