Shares of United Breweries advanced nearly 5 per cent in Tuesday’s trade amid reports that global beer maker Heineken may launch a voluntary open offer for 10-15 per cent stake in liquor major.
The scrip closed 4.79 per cent up at Rs 1,299.40, while the benchmark BSE Sensex settled 181.40 points, or 0.44 per cent, lower at 41,461. The BSE also sought a clarification on the same from United Breweries.
Heineken held over 45 per cent stake in the company as of September 30.
For the quarter ended September 30, United Breweries posted 29.40 per cent year-on-year (YoY) fall rise in net profit at Rs 114.80 crore against Rs 162.60 crore in the same period last year. Net sales of the company increased 7.69 per cent YoY to Rs 3,588.80 crore for the quarter under review.
Source: Economic Times