United Breweries tipsy on stock split buzz

DALAL STREET SPIKES

Vijaya Mallaya promoted company, United Breweries jumped by 10 per cent to close at Rs 1,442.40 owing to stock split announcement.

The company has decided to divide its 2,16,00,125 equity shares of Rs 10 each, into equity shares of Re 1 each.The stock has lept by over 50 per cent in a fortnight.

The company had reported a robust performance in December quarter. While the sales rose by 23.5 per cent year-on-year to Rs 120.87 crore, net profit jumped by 550 per cent to Rs 9.24 crore in the same period.

The UB Group is world's second spirits company with flagship brands such as Kingfisher, Mcdowells No. 1 and Bagpiper Whisky.