United Spirits soars 15% on stake sale to Diageo

MUMBAI - Shares of United Spirits Ltd, under Vijay Mallya's flagship, soared nearly 15 per cent and was the top gainer on Monday despite Indian bourses being under selling pressure.

At 3:15 pm, United Spirits was trading 15 per cent higher at Rs 808, after hitting an intraday high of Rs 815.90

Brokers said the counter witnessed bouts of buying and selling after the company entered into exclusive talks with Diageo for selling its 15 per cent stake last week.

Diageo could buy 14.99 per cent stake initially and enter the United Spirits board with two representations, besides a distribution partnership in the Indian market.