Credit Suisse buys shares worth Rs 62 crore in United Spirits

MUMBAI: Foreign fund house Credit Suisse (Singapore) Ltd, today acquired 9.21 lakh shares of United Spirits for Rs 62 crore.

According to bulk data available on the stock exchanges, Credit Suisse (Singapore) Ltd purchased 9,21,241 shares of United Spirits for Rs 673.29 apiece, valuing the deal at Rs 62 crore.

However, identity of the seller(s) could not be ascertained.

Earlier during the day, shares of United Spirits jumped by 8 eight per cent to touch a high of Rs 688.30 on the BSE. It later closed 6.37 per cent higher at Rs 677.40.

The counter surged amid reports that the group is looking to sell stake in United Spirits and spirits major Diageo is in the running to pick up a stake, according to market analysts.

Besides, shares of other UB Group companies also rose up to 20 per cent on the bourses. At close today, shares of United Breweries Holdings surged 20 per cent to hit an upper circuit limit of Rs 70.80 on the BSE.

Kingfisher Airlines surged 6.29 per cent to close at Rs 13.85, United Breweries settled 7.18 per cent higher and McDowell Holdings rose by 4.91 per cent.

Mangalore Chemicals and Fertilizers also went up by 2.61 per cent while UB Engineering Ltd climbed 16.92 per cent.

The BSE benchmark Sensex finished the day 17.71 points up at 16,880.51.