Shares of United Breweries Ltd surged nearly 6 per cent today after Heineken International BV increased its stake in the company by buying shares worth Rs 152 crore.
The scrip rose 5.91 per cent to end at Rs 877 on BSE. During the day, it soared 7.15 per cent to Rs 887.30. At NSE, shares of the company jumped 5.76 per cent to close at Rs 876.50.
In terms of volume, 7.14 lakh shares of the company were traded on BSE and over 18 lakh shares changed hands at NSE during the day.
The shares were purchased from private sector lender Yes Bank. According to block deals data available with BSE on Friday, Heineken International bought 18,54,785 shares or 0.7 per cent stake in UBL.
United Breweries shares were bought at an average price of Rs 819.5 apiece, valuing the transaction at Rs 152 crore. United Breweries Ltd (UBL) is widely known for Kingfisher Beer.