Page 5 - United Spirits

Liquor shares in focus; Pioneer Distilleries surges over 50% in four sessions

United Spirits, Globus Spirits, Som Distilleries, Empee Distilleries and GM Breweries were up between 5%-8%

United Spirits Ltd to shed 300 jobs

Company wants to align its resources to meet its goals of becoming a trusted and respected consumer goods company

Outlook subdued for United Spirits

Concerns persist on volume growth due to liquor bans in states

United Spirits officials face ED heat

They are facing probe transfer of Rs 4,000 crore by the company in 2007 to its overseas arm based in British Virgin Islands

USL to cut debt by up to Rs 2 ,000 cr in 2 yrs

Diageo-controlled liquor firm United Spirits Ltd (USL) is looking to reduce its debt by up to Rs 2,000 crore in the next two years through various measures that include sale of shares and properties earlier owned by embattled businessman Vijay Mallya."We are looking at a debt reduction of Rs 1,000-2,000 crore in the next two years. On an annualised basis, it would be around Rs 1,000-odd crore," USL chief financial officer Sanjeev Churiwala told analysts in a conference call on Friday.USL has an outstanding debt of over Rs 4,000 crore as on March 31, 2016.Churiwala said the company will consider steps, including divesting 13 properties earlier owned by embattled liquor baron Vijay Mallya and sale of USL shares currently under litigation with IDBI Bank."Sales of 13 properties would fetch around Rs 500-700 crore," Churiwala said.Mallya, however, has the first right to buy the properties as a part of the deal he had signed with Diageo in February to exit from USL.In February Mallya, resign

United Spirits to reduce debt by up to Rs 2,000 crore in 2 yrs

The company has an outstanding debt of over Rs 4,000 crore as on March 31, 2016

USL writes off Rs 566-cr dues

Meanwhile, United Spirits' standalone net loss narrowed to Rs 8.99 crore for the March quarter, on account of exceptional items

United Spirits extends gain; up 10% in three days

The stock moved higher by 5% to Rs 2,600, extending its 5% gain in past two trading sessions on the BSE.

United Spirits gains on buzz of Diageo plan to hike stake

The stock was trading higher by 6% to Rs 2,495 on the BSE in otherwise weak market in noon deal.

United Spirits soars above 6% after Vijay Mallya quits as chairman

Under the agreement, the UK-based company, Diageo agreed to pay Rs 515 crore and absolve him from all the liabilities over alleged financial lapses at the firm founded by his family

As Mallya steps out, M K Sharma to take over as new USL chairman

Mallya's exit from the board of USL ended a long-drawn tussle between him and the majority owner, UK's Diageo

United Spirits gains on exit of Vijay Mallya

The stock rallied 6% to Rs 2,836 on the BSE in early morning trade.