United Breweries (Holdings) rose 12.01% to Rs 21.45 at 14:14 IST on BSE on reports that the Calcutta High Court dismissed United Bank of India's decision to declare the grounded Kingfisher Airlines a wilful defaulter.
Shares of Kingfisher Airlines were up 3.57% at Rs 1.45.
Meanwhile, the S&P BSE Sensex was up 171.36 points or 0.63% at 27,413.14.
On BSE, so far 2.36 lakh United Breweries (Holdings)'s shares exchanged hands as against average daily volume of 1.15 lakh shares in the past one quarter.
The stock hit a high of Rs 22.30 and a low of Rs 19.90 so far during the day. The stock had hit a 52-week high of Rs 52.20 on 12 June 2014. The stock had hit a 52-week low of Rs 16.60 on 17 December 2014.
The stock had underperformed the market over the past one month till 26 December 2014, declining 12.95% compared with Sensex's 4.03% fall. The scrip had also underperformed the market in past one quarter, sliding 26.77% as against Sensex's 2.31% rise.
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The small-cap company has equity capital of Rs 66.82 crore. Face value per share is Rs 10.
Earlier in September this year, United Bank of India (UBI) had declared now grounded Kingfisher Airlines, its chairman Vijay Mallya and three directors as wilful defaulters for non-payment of Rs 400 crore of dues.
United Breweries (Holdings) is parent company of the Kingfisher Airlines.
United Breweries (Holdings)'s net profit fell 99.6% to Rs 3.59 crore on 14.2% decline in net sales to Rs 98.11 crore in Q2 September 2014 over Q2 September 2013.
United Breweries (Holdings) is the flagship holding company of the UB Group, through which the promoters and the promoter group hold their stakes in the various companies which comprise the UB Group.
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