United Spirits rose 1.16% to Rs 584.8 at 09:35 IST on BSE after the company said that its promoter Relay B. V. has hiked stake in the company.
The company announced after market hours yesterday, 20 August 2019, that Relay B. V. acquired 33.10 lakh shares at Rs 591.95 per share, aggregating to Rs 195.96 crore. The transaction took place on 20 August 2019 via open markets. The stake of the promoter after the said transaction has risen from 54.78% to 55.24%.Meanwhile, the S&P BSE Sensex was down 90 points or 0.24% to 37,237.71.
On the BSE, 1.04 lakh shares were traded in the counter so far compared with average daily volumes of 5.64 lakh shares in the past two weeks. The stock hit a high of Rs 597.9 and a low of Rs 583.8 so far during the day.
The stock hit a 52-week high of Rs 680 on 03 Dec 2018. The stock hit a 52-week low of Rs 439 on 09 Oct 2018.
On a consolidated basis, United Spirits' net profit rose 37.2% to Rs 202.10 crore on a 7.2% rise in the net sales to Rs 2433.10 crore in Q1 June 2019 over Q1 June 2018.
United Spirits, a Diageo Group company, is an Indian alcoholic beverages company, and the world's second-largest spirits company by volume.
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