United Spirits in green on opting for out of court settlement with ABD over Officers' Choice

10 Oct 2012 Evaluate

United Spirits is currently trading at Rs. 1266.50, up by 5.80 points or 0.46% from its previous closing of Rs. 1260.70 on the BSE.

The scrip opened at Rs. 1260.00 and has touched a high and low of Rs. 1286.70 and Rs. 1244.70 respectively. So far 4,36,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1309.40 on 03-Oct-2012 and a 52 week low of Rs. 450.00 on 12-Jan-2012.

Last one week high and low of the scrip stood at Rs. 1286.70 and Rs. 1171.00 respectively. The current market cap of the company is Rs. 16,565.00 crore.

The promoters holding in the company stood at 27.78% while Institutions and Non-Institutions held 55.95% and 15.80% respectively.

In an indication that Vijay Mallya may be nearing a deal with Diageo, United Spirits (USL) opted for an out of court settlement with Kishore Chhabria’s ABD over Officers' Choice. Both the parties decided to end the over two decade long dispute over the ownership of Officer's Choice, the largest-selling whisky brand in the world, out of court, with USL receiving Rs 8 crore from Allied Blenders & Distillers (ABD) - that owns Officer's Choice - for withdrawing all court cases claiming right over the whisky.

Both the company got into bitter terms even after Mallya took over Shaw Wallace owned by Kishore Chhabria’s late brother Manu Chhabria with Kishore Chhabria too laying claim to ‘Officers’ Choice during that transaction. Meanwhile, this move of the company as speculated is fulfillment to one of the condition laid by the British drink giant, Diageo, of settling all pending litigation before entering into a stake sale arrangement.

On standalone basis, the company posted a rise of 5.26% in its net profit at Rs 144.95 crore for the quarter ended June 30, 2012 as compared to Rs 137.71 crore for the same quarter in the previous year. Total income has increased by 8.46% at Rs 2117.95 crore for quarter under review as compared to Rs 1952.78 crore for the quarter ended June 30, 2011.

United Spirits Share Price

1164.60 -5.80 (-0.50%)
31-May-2024 16:01 View Price Chart
Peers
Company Name CMP
United Spirits 1164.60
United Breweries 1857.10
Radico Khaitan 1576.05
Globus Spirits 703.00
Tilaknagar Inds 229.90
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