Stake sale buzz adds fizz to Shaw Wallace

DALAL STREET SPIKES

Liquor stocks were in the limelight with both McDowell's and Shaw Wallace India surging in an otherwise subdued market.

Sources said that the surge in the stock prices of both these counters is backed by strong volumes for the past few days. In Wednesday's trading, Shaw Wallace was up 9.20 per cent to close at Rs 202.25.

The stock has been in the limelight following reports that three to four business houses has shown interest in buying the company's liquor business.

There are also rumours doing rounds that the UB Group-promoted McDowell's has emerged the highest bidder for the Shaw Wallace's stake, at about Rs 1,200 crore.

McDowell's stock today closed at Rs 157.65 after the stock hit an intra-day 52-week high of Rs 165.80.