United Breweries (Holdings) tumbles after PNB declares it as a ‘Willful Defaulter’

United Breweries (Holdings) is currently trading at Rs. 21.05, down by 1.65 points or 7.27% from its previous closing of Rs. 22.70 on the BSE.

The scrip opened at Rs. 21.75 and has touched a high and low of Rs. 21.75 and Rs. 20.50 respectively. So far 34,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 35.80 on 10-Nov-2015 and a 52 week low of Rs. 17.00 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 24.70 and Rs. 20.30 respectively. The current market cap of the company is Rs. 141.32 crore.

The promoters holding in the company stood at 52.34% while Institutions and Non-Institutions held 5.37% and 42.28% respectively.

United Breweries (Holdings) has received a letter from Punjab National Bank (PNB) on February 15, 2016, whereby the bank has declared the company as a ‘Willful Defaulter’. The company is in consultation with its legal counsels to challenge the decision by taking appropriate legal action that may be required in this regard.

United Breweries (Holdings) is an India-based company, which is engaged in the holding of strategic investments and other securities, international trade, development of real estate, sale and rental of constructed premises, including residential property of Kingfisher Towers, licensing of trademarks, advancing of loans and provision of guarantees.