Shares of United Spirits, on Monday, surged by 6 per cent to one-year high ahead of its annual general meeting on Tuesday, amid reports that U.K.-based Diageo was in talks to acquire stake in the Vijay Mallya-owned firm.
After soaring over 10 per cent during the day, shares of the company finally closed at Rs.1,054, up 6.03 per cent on the BSE. On the NSE, it closed 6.07 per cent higher at Rs.1,054. According to market experts, speculation about stake sale in United Spirits is the main reason behind this rally. The UB group is the promoter of USL with a 28 per cent stake.