Millennium Post

Mallya’s United Spirits soar 14% as Morgan Stanley buys stake

United Spirits shares on Monday jumped nearly 14 per cent after foreign fund house Morgan Stanley Asia increased its exposure to the company buying about 10.80 lakh shares for an estimated Rs 229 crore. Shares closed 13.33 per cent higher at Rs 2,460.35, after touching a high of Rs 2,484.45 in intra-day trade on the BSE.

At the National Stock Exchange, the stock rallied 13.94 per cent to end at Rs 2,470. In terms of volume, 6.37 lakh shares of the company changed hands at the BSE, while over 29.87 lakh shares were traded at the NSE. As per the data available, Morgan Stanley Asia (Singapore) Pte on Friday bought 10,80,142 shares, amounting to 0.74 per cent stake of United Spirits through an open market transaction.

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