United Spirits gains on investment plans

The stock finally touched a high of Rs 935 and settled at Rs 922, up 2% from the previous close. Around 169,277 shares were traded at the BSE today.
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(Updated at 1257hrs)

United Spirits has advanced 2.5% to Rs 924 on the back of its plans to invest Rs 100 crore over next three years.

The stock touched a high of Rs 925. The scrip touched a low of Rs 910 after opening at Rs 915. Around 84,400 shares have changed hands so far on the counter as against its two-week average traded quantity of 304,968 shares.

The proposed expansion is to support the company’s export foray and to increase market share to 40% in the domestic market. As part of the domestic expansion, the company is planning to target Tier-II cites in the country.