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United Breweries shares soar over 8% in today’s trade; here is why

Shares of United Breweries rallied as much as 8.69 per cent on Friday after reports showed that around 18.5 lakh shares of the company worth Rs 152 crore were traded in a block deal on BSE at Rs 822 per share.

By: | New Delhi | Updated: September 16, 2016 4:41 PM
bse sensex nse nifty united breweries Shares of United Breweries rallied as much as 8.69 per cent on Friday after reports showed that around 18.5 lakh shares of the company worth Rs 152 crore were traded in a block deal on BSE at Rs 822 per share.

Shares of United Breweries rallied as much as 8.69 per cent intraday on Friday after reports showed that around 18.5 lakh shares of the company worth Rs 152 crore were traded in a block deal on BSE at Rs 822 per share. According to CNBC TV18, Heineken is the likely buyer of United Breweries shares in today’s trade. At 12.58 pm, shares of the company were trading 6.55 per cent up at Rs 874.90. The scrip opened the day at Rs 825 and has touched a high and low of Rs 892.50 and Rs 821.45, respectively, in trade so far. Later, the scrip closed 0.85 per cent up at Rs 828.05.

So far, around 20.34 lakh shares of United Breweries exchanged hands on BSE, up 113 times, against the 2-week average of 18,000 shares.

For the quarter ended June 30, 2016, the company reported a net profit of Rs 147.06 crore, up 20.40 per cent, against Rs 122.14 crore in the corresponding quarter a year ago. Net sales of the company jumped 8.60 per cent year-on-year to Rs 1485.67 crore for the quarter under review against Rs 1368.03 crore in the same quarter last year.

In the past one year, shares of the company have fallen 5.34 per cent to Rs 821.10 till September 15, whereas BSE Sensex advanced 10.53 per cent during the same period. Shares of United Breweries have hit their 52-week high of Rs 1014 on November 4, 2015 and 52-week of Rs 690 on May 24, 2016.

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