United Breweries jumps nearly 5% on Heineken stake buy

Posted By: Religare
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Shares of Vijay Mallya-owned United Breweries surged nearly 5 per cent in early trade on Bombay Stock Exchange (BSE) after Dutch giant Heineken acquired 1.35 per cent stake in India's largest brewing company through bulk deals on the bourses.

Heineken bought 35.5 lakh shares in United Breweries through a bulk deal on Tuesday, taking its total stake to a little less than 39 per cent. Buoyed by development, shares of company gained as much as 4.73 per cent to trade at Rs 813.00 a piece on the BSE.

In a similar fashion, shares of the company climbed 2.15 per cent to Rs 792.50 a piece on National Stock Exchange. Meanwhile, the broader benchmark Sensex was quoting at 21,153.76, down 101.50 points or 0.48 per cent at 10:20 hours.

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