United Spirits Ltd.

United Spirits is currently trading at Rs. 2961.20, up by 100.45 points or 3.51% from its previous closing of Rs. 2860.75 on the BSE.

The scrip opened at Rs. 2930.00 and has touched a high and low of Rs. 2967.50 and Rs. 2917.10 respectively. So far 18216 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2967.50 on 12-Jan-2015 and a 52 week low of Rs. 2226.00 on 05-Sep-2014.

Last one week high and low of the scrip stood at Rs. 2967.50 and Rs. 2755.05 respectively. The current market cap of the company is Rs. 41574.63 crore.

The promoters holding in the company stood at 58.87% while Institutions and Non-Institutions held 27.60% and 13.05% respectively.

United Spirits (USL) has received approval from minority shareholders for a proposal to enter into licensing and cost sharing agreements with certain subsidiaries of its parent Diageo Plc, which was rejected earlier last year. The special resolution was approved by the shareholders “with requisite majority” at an extraordinary general meeting held on January 9, 2015. 76.33 per cent of the minority shareholders have approved its proposal, a tad over the 75 per cent requirement.

Although the promoter and promoter groups are required to abstain from voting, the filing said United Breweries (Holdings), holding 2.90 per cent shares of the United Spirits and Kingfisher Finvest India, holding 1.14 per cent of the share capital, have exercised their votes in favour of the special resolution.

The proposal included entering into licence for manufacture and sale agreements, distribution, cost sharing and other agreements by the company with its holding company Diageo Plc.

United Spirits is the largest spirits company in India and a flagship entity of $2 billion UB group. It manufactures wide range of whisky, vodka, rum and other spirits.