McDowell up on private placement scuttlebutt

DALAL STREET SPIKES

The Vijay Mallya promoted-McDowell & Co hit the 20 per cent upper circuit on Monday on continued buying.

The stock has been in the limelight of late and has risen 37 per cent in the last four trading sessions to Monday's close of Rs 105.90.

Market sources said rumours of a private placement at higher levels by the company promoters is generating lot of speculative interest at the counter. The counter witnessed an impressive volume of more than 24.15 lakh shares on the Bombay Stock Exchange (BSE).

Analysts said overall most liquor stocks are in the limelight of late on improved financials and better price realisations.

McDowell owns popular liquor brands like McDowell's No.1 Whisky, Signature Rare Whisky, McDowell's Celebration Rum, Blue Riband and No.1 McDowell's Brandy.