United Breweries rose 2.74% to Rs 797.50 at 9:44 IST on BSE after Dutch beer maker Heineken International BV, on Tuesday, 10 December 2013, hiked its stake in United Breweries for an estimated Rs 275 crore.
Meanwhile, the BSE Sensex was down 113.85 points, or 0.54%, to 21,141.41.
On BSE, so far 62,000 shares were traded in the counter, compared with an average volume of 96,827 shares in the past one quarter.
The stock hit a high of Rs 813 and a low of Rs 793.10 so far during the day. The stock hit a 52-week high of Rs 1,005 on 28 October 2013. The stock hit a 52-week low of Rs 580.65 on 14 February 2013.
The stock had underperformed the market over the past one month till 10 December 2013, falling 0.85% compared with the Sensex's 2.85% rise. The scrip had also underperformed the market in past one quarter, falling 9.13% as against Sensex's 6.29% rise.
The large-cap company has an equity capital of Rs 26.44 crore. Face value per share is Re 1.
According to the information available with the bourses, Heineken International BV acquired a total of 35.58 lakh shares, amounting to 1.35% stake, of United Breweries through open market.
The shares were purchased, from Citicorp Finance (India) on an average price of Rs 772.90, valuing the transaction at Rs 275 crore.
As on 30 September 2013, Heineken owned 37.57% stake in United Breweries. Indian promoter Vijay Mallya owned 37.25% stake in United Breweries.
United Breweries reported a net loss of Rs 18.57 crore in Q2 September 2013 compared with net profit of Rs 34.20 crore in Q2 September 2012. Total income fell 1.22% to Rs 848.78 crore in Q2 September 2013 over Q2 September 2012.
United Breweries is the flagship company of UB Group. With its flagship brand Kingfisher, the company is market leader in beers in India.
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